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

To: pater tenebrarum who wrote (1021)	10/22/1999 9:51:00 AM
From: J.T.	Read Replies (1) \| Respond to of 19219

heinz, bond yields started rising last fall right at the very moment A.G. was cutting rates three times. Likewise, for me, right in here in this period of time and before the last rate hike, bond yields for me will peak. A.G. has no choice to raise rates Nov 16 (no later than the Jan meeting) otherwise yields will keep going higher. The markets are very shortly going to shift from earnings to MSFT finding of facts but more importantly back to interest rates starting next week. I think you know my position on IBM well, which is asymptomatic of the problems Y2k will create for the overhang albatross of the broader market. You know it well what this market is about is BAD BREADTH. Even on that strong WedNDXsday, advances barely led decliners and new highs were crushed by new lows 10 to 1. It is only a matter of time before THE BIG HURT GETS PLAYED OUT NOW. .And at that very moment the flight to quality will commence and bond yields will turn back down. This is why I believe we are near the highs with bond yields. I don't follow "cycles". Maybe you can keep me informed. I believe we are still in the midst of this rolling bear correction and you already know market breadth is in crash mode parity is below DOW 6000 on breadth alone. But we know how long this takes to develop and we can not simply use breadth as the only indicator. Best Regards, J.T.