Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (39)	2/7/2000 3:00:00 PM
From: Jorj X Mckie	Read Replies (1) \| Respond to of 33421

A convergence of indicators.....P&F still negative, however one of the main indicators turned positive last week (Optionable stocks Bullish percent). When these indicators fluctuate that much in one week, there has to be something up. Usually it takes weeks to months for these things to switch directions, and we had this indicator flipping in the same week....weird. So I should hold those QQQ shorts, ehh?

To: John Pitera who wrote (39)	2/7/2000 3:01:00 PM
From: GROUND ZERO™	Respond to of 33421

Agreed, and the DOW actually gave a three day sell wiggle on Wednesday, Thursday, and Friday... today's action is further confirmation of that sell wiggle..... if we close the SP's below 1420, then we could see some more selling..... GZ

To: John Pitera who wrote (39)	2/8/2000 12:42:00 PM
From: John Pitera	Respond to of 33421

The situation in Japan is looking very tenuous, If they truly run out of buyers for the JGB's then it will definitely rattle the global markets, and give us a more meaningful sell off in our stock market. The dramatic weakness in dollar/Yen seems to be portending a problem. The Financial times has a disturbing article today. JAPAN: Consolidated national accounts planned By Gillian Tett in Tokyo An alarming picture of Japanese finances is feared with the publication of the first set of consolidated national accounts aimed at describing the government's assets and liabilities. The figures, being prepared by the finance ministry, may inject a new note of controversy into fiscal policy ahead of the next election. In recent years the ministry has expressed growing alarm about the deteriorating state of Japan's finances. The debt to gross domestic product ratio is likely to hit 130 per cent next year, the highest level in the industrialised world. But the ruling Liberal Democratic party has continued to implement large spending packages to boost the economy. With an election looming this year, the LDP is considering yet another spending package - particularly since figures due out next month are likely to show Japan slipped into a technical recession at the end of last year. Some LDP politicians insist Japan can tolerate more spending, since long-term bond yields are around 1.8 per cent. However, the ministry fears the low yields are temporary, because the fiscal position is worsening dramatically. In recent weeks some bureaucrats have been trying to highlight the scale of Japan's debt problems to the politicians. Last week the ministry warned parliament that the central government debt burden could rise by a third in the next four years, to around ¾450,000bn ($4,200bn). Bureaucrats have been quietly pointing out to the LDP that Japan's overall debt burden could be far worse, since the government figures do not capture the full extent of "hidden" liabilities in Japan's complex fiscal structure. The data, which the ministry plans to publish in the next few months, will attempt to measure these liabilities and assets by pulling together information on the core, central government budget and the secondary areas of government spending, such as projects funded by the postal savings system. Ministry officials say that the new balance sheet is intended to inject more transparency into the country's fiscal position, which has been one of the most opaque in the industrialised world. The ministry warns that the initial round of data will be crude and probably exclude local government accounts. Officials are also finding it difficult to decide how to measure pension liabilities and government assets accurately. However, the ministry argues it is important to publish an early estimate to stimulate debate. At present, Germany is the only other country that does not produce a consolidated balance sheet of national accounts. ft.com