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

To: IndexTrader who wrote (326)	3/6/2000 11:24:00 PM
From: robert b furman	Read Replies (1) \| Respond to of 33421

I think the turning point is approaching. The general weakness of big caps and the unusual divergence of the small caps says it all. We are witnessing the topping of the longest bull market in history. No it won't turn over night. Yes it will be obvious - except for those blinded by greed. Yes it will provide the best of markets for those nimble enough to be traders in volatile markets (of which I regretably, can not claim proficiency in). I believe the cascading of dollars down into lower priced stocks which pumps up the lower indices - is the only game left in town!! It is the only affordable game left !! Think about it - if you were pulling equity out of the market what market could you afford to pump up ??? THE LOWER PRICED MARKET !!! THE REST IS EQUITY EXITING THE MARKETPLACE !! Remember - you must sell at the top - to have purchasing power at the bottom !!! Therefore the russell 2000 flies up , as a positive divergence - as the heavy indices fall from there past inflated weights. Capt. Jim has it right . Eventually the market falls from its own weight!!! siliconinvestor.com Only the blue line rises(russell 2000) as the rest roll over! WE WITNESS DISTRIBUTION !!!! JMHO Bob

To: IndexTrader who wrote (326)	3/7/2000 10:37:00 AM
From: Chip McVickar	Read Replies (1) \| Respond to of 33421

Hi Susan, I agree with you.... The markets are sitting on 50/50. Especially for the next few weeks. I believe they will be range bound for the near future. The SPX looks awful this morning? IMHO....I do Not expect any significant moves down, without some defining event to change investors perceptions of the markets as a place to save for the future and a place to accumulate wealth. Fed's activities are being seen as cautionary and prudent.... They may keep the markets range bound but will Not kill them. I also don't expect any huge up moves within the broader sectors, the economy is strong, some sectors are improving and we seem to still be enjoying the powerful productivity gains of our technological advances. Why shouldn't this continue for another 20 years....? The Nasdaq is undergoing a significant structural change as young brokers and momentum buyers are buying the tech future today and forgetting the old 'company economy.' Will this lead to a strangle and cause problems...? Is it Real and/or is the new market a joke..? The parabolic rise of the Nasdaq looks like any other penny stock supported by speculation and eventually dropped by the players to the public..? Is it Real or just a Video Game..? Chip

To: IndexTrader who wrote (326)	3/9/2000 8:14:00 AM
From: Chip McVickar	Read Replies (1) \| Respond to of 33421

Susan, >>What do you think about the market (SPX) for the next couple of weeks.<< Here's a trading chart I've been using....and the Andrew's Pitchfork is what I've described. Maybe John will put it on the screen..? I expect to see 1325ñ over the next 4-5 days if the pattern holds true, but the market may test 1380 first. A significant break of either 1325 or 1335 would break the pattern. It's 50/50 with a bias to the downside. Chip Message 13132384