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

To: marginmike who wrote (1260)	11/8/1999 5:53:00 PM
From: J.T.	Read Replies (1) \| Respond to of 19219

MM, BKX has not closed above BKX 890. BKX has not failed me and in fact was the guiding index why I caught the two huge one day monster gains in the SPX on the upside. I participated in the largest one day advance in the SPX this year b/c of BKX. Sure there are excellent stocks out there. Just too rich for my blood valuation-wise right now. You can justify any higher price with PEG rates . Especially in parabolic blow-off phases right now in TECH. It is the Holy Grail. Everything is extremely overbought right here. You think I am going to be a fool and get in now? DOW, SPX, RUT, BKX UTIL, TRAN et al have not confirmed new highs and broadening out of this rally beyond TECH and NUTZ. WHY?