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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (25201)	2/16/2000 1:09:00 AM
From: Suresh	Read Replies (1) \| Respond to of 68217

Hi Harry, media is generally bullish on the market. Most seems to think that we are going to have a good market till summer and then a correction and then zoom into new high towards the end of year. PMCS and RMBS were just amazing today.... I thought I have seen everything but I was wrong. BTW in one of your previous postings you were thinking about end of Q window dressing funds this month. Don't you think they would do it in March rather than in Feb ? Have you seen RHAT lately ? No one seems to love it anymore. Later, Suresh

To: Johnny Canuck who wrote (25201)	2/16/2000 9:08:00 AM
From: j g cordes	Respond to of 68217

Morning all.. some stray thoughts * Market sentitiment is neutral after a 10% (+-) occilation to the downside. The bulls have begun to reassert their overconfidence and the bears have been given some acknowledgement. * Energy costs define the old economy. Oil is at $30 a barrel, with many Opec members wanting to squeeze the dollar pump higher. A Saudi minister suggested today oil may be less threatening and Norwegian oil is being encouraged to flow without restriction to ease supply. The old economy is airlines, industrial manufacturing, commodity, banking and construction etc.. these charts were beginning to base during the high tech shake as "safe" and "oversold" havens. In an environment of high productivity and low unemployment this is normal, to see money migrate among sectors.. versus fleeing the market into bonds or other fixed income. * Good reports continue to come out of tech while the real and imagined backlog of future expansion seems endless. Not only has money continued to pour into this enthusiasm but its become its own wealth building machine. Money quickly leaves the CPQ's and DELL's to double in a router company, then leaves that to treble in an optical. That's the secret of making BIG money.. moving gains from one sector into the next that's catching fire. Chart patterns are better at predicting over confidence and bubbles... many show classic vertical price patterns. Vertical isn't good, as any pilot knows, it can lead to stalls and spirals if one isn't careful. Jim