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

To: GROUND ZERO™ who wrote (580)	3/25/2000 9:39:00 PM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 33421

Good Point! I didn't catch up with the discussions on MDD until after I answered your post and the missing link maybe the money is leaving our shores for overseas markets. I just saw it leaving the Bonds and notes and saw the dollar droping hard. My short term stuff is still looking more like a temporary small pullback with the risk of it getting ugly but not expected to go that route yet. After Mid April, I expect things to get uglier. Now, if AG starts hinting he is looking at raising margin requirements, all bets are off and I would go full short as despite what AG says, I think he knows that raising margin would bring the tech valuations down hard and tone down the speculation and thus bring PEG ratios closer to the norm. If you chart teh NYSE new highs minus the new lows, you will see a resistance line going back for over a year. We are at that point now. The market has pulled back off of this line every time. Either we pullback now, or the market will broaden out. SInce the FA of a wider market breadth runs contrary to a rising interest rate environment, I expect the market should pullback here a short time. I still have higher mid term targets though so I expect one more leg up before the top is put in Mid to late April where short will be the best place to be again to stay a while. Till then, short a few days then back to long is what I plan on. If AG mentions Margins, then I will SAR and hold short. I don't trade currency futures, are there any derivatives that would act as a proxy other than the JPN options??? I have sell signal on the JPN but it has not reached any meaningful trendlines yet and like our market, I expect a mild pullback then another upleg or at least enough risk of one to not be holding puts. Good Luck, Lee