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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: J.T. who wrote (769)	10/7/1999 10:33:00 AM
From: J.T.	Read Replies (3) \| Respond to of 19219

IBM is an albatross overhanging this market. After hitting our little bounce rally of 122 we have turned back down and tested support of 115 1/2 intraday low again- as I expected. My ultimate target is IBM 109 intraday low and I will take my profits on these puts. This close below IBM 118 should come today and set it up for that negative non-confirmation on that second close below 118 for the broad market. Only a bullish employment number tomorrow will alter its immediate short term direction of IBM. Best Regards, J.T.