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

To: J.T. who wrote (917)	10/19/1999 10:51:00 AM
From: J.T.	Read Replies (2) \| Respond to of 19219

How much more dead on the money can we be than this from last night: ...<1)Tomorrow is CPI benign and we rally hard taking DOW to this DOW 10,310 level on its way to potentially DOW 10,480 area sometime on Weds. before settling down around DOW 10,380 Weds. close. SPX 1,294 is within reach in next two days intraday before settling back to SPX 1,280>... and this: ...<The second and more bullish way of looking at this is that this was the third test of DOW 9,976 and it held firm support and bounced solidly after the last test. This NDX was on both sides of this NDX 2,328 test I called for and once we hit NDX 2,300 intraday low area support we bounced real hard to confirm DOW. BKX also has again done its about face back northbound. This BKX alone has been the best indicator for me to call short term market direction of late. I have sided with the Bullish later view for this short term bounce I have called for last Friday>... Best Regards, J.T.

To: J.T. who wrote (917)	10/19/1999 11:16:00 PM
From: J.T.	Respond to of 19219

Oh what a day. Not only are the banks and financials building some momentum AXP, C, JPM but you now see the spillover effect into the drugs MRK and JNJ. With MSFT now carrying the coat-tails of tech tomorrow look for IBM and HWP to at least join in on the party for the day. What you have with the rest is combustion to take this market solidly higher tomorrow as the bounce continues. Tomorrow should be the strongest day of this upward thrust, imho. I think I have learned it well from my older "brother" IKE that you can not stay locked into one position into infinity as I have done many times. Thanks IKE if you are lurking...Trade it up and trade it down. And I have learned to cut losses as time has gone on. Time to ride the winners... Off to the numbers... Best Regards, J.T.

To: J.T. who wrote (917)	10/28/1999 1:41:00 AM
From: J.T.	Read Replies (2) \| Respond to of 19219

AND NOW FOR THE BOUNCE...PART 2 OR THE FINAL BOUNCE? I am going to cut to the chase since it is late and tomorrow is a big day. I think we are going to see this second half of this counter-trend bounce play out tomorrow after the ECI and unemployment # comes in relatively in line with estimates that will spark the rally. Let's get to the numbers: 1)DOW: I believe we are going to see the DOW over the next three trading days take us to this DOW 10,780 level intraday high before we turn back down. At a minimum, we will test this DOW 10,650 level intraday high. Then we turn back down. 2)SPX: we are going to go back and test either side of SPX 1,335 in next three days intraday before turning back down. 3)NDX: is going to set token new intraday highs these next two to three days right above NDX 2,560. NDX 2,590 intraday is do-able intraday, and then we turn back down hard. 4)BKX has been acting like a bull in a china shop and has exceeded my expectations these last four days. Just underneath BKX 880 intraday next two to three days and then we turn back down. I will put out safety net supports tomorrow a.m. when I have more time if needed and ECI serves the market burnt toast and my head on a platter. <g> I will be looking for clues for that hard turn back down after this bounce materializes within next three trading days. I will deal with MSFT and INTC additions to DOW in another post going forward. It is in these highly volatile market environments that you must be little flexible with break points, support and resistance levels like today with microcosm BKX NDX disparity. In a broader context, the same can be said for TRAN and UTIL vs. SOX and DOT (although IIX is better indication of INTERNUTZ pulse right now). Best Regards, J.T. EDIT: I will update PIXR tomorrow. I feel blessed they gave me this opportunity to get more shares on the cheap. Thank you Mr. Market. Shorts now at 3.5 million shares out there and they will begin to buy back shares of stock they don't own and cover at these discounted levels. Then its UP UP UP we go.