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

To: robert b furman who wrote (464)	3/14/2000 11:20:00 PM
From: Lee Lichterman III	Respond to of 33421

I have been lurking this thread for months and have pretty much agreed with most posts so I kept my mouth shut. Great thread with no BS. I do think however we are close to a short term bottom, I mean very short term and don't see a BK here. There are too many open put contracts on the QQQ at 200 and below and also too many puts versus calls on the OEX below 740. My charts show one day more to the downside then a very short term rally into Friday to make the most puts expire worthless. Sell off should resume shortly there after and get much uglier. VIX isn't high enough for a longer term bounce. I haven't updated yet but my charts can be seen on my site at the link off of my profile. SPX and OEX are still following the channel so far from the previous 3 peaks and lows. If 1300 SPX breaks, things are going to get real ugly reall fast as I don't show any more support till around 1230 based on forks. Good Luck, Lee