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

To: John Pitera who wrote (911)	4/12/2000 6:53:00 AM
From: GROUND ZERO™	Read Replies (1) \| Respond to of 33421

Hi John, I know just what you're saying, and it is remarkable that investors are not even phased by the kind of volatility we've seen in recent months/years, not to mention last Tuesday... still, the charts are beginning to look somewhat positive and a move higher seems imminent... GZ

To: John Pitera who wrote (911)	4/12/2000 7:53:00 AM
From: Chip McVickar	Read Replies (1) \| Respond to of 33421

Morning John, Today, for the Nasdaq there is a Time Projection off a fork from 3/16. This may provide a short-term rally. But 2.618 fib work suggests 3445.86 as a natural bottom. That's also near a 50% retrace off Oct 98 low. As you know it also closed on a 50% retrace for the recent move. John, are there any measurements for this kind of complacency, like sentiment charts, etc Chip

To: John Pitera who wrote (911)	4/12/2000 8:33:00 AM
From: robert b furman	Read Replies (1) \| Respond to of 33421

Well the last two days gave him his 400 down finish.I think there are some very touchy nerves out there in the biotech and telecom world.My semi equipment stocks fell hard last tuesday and have firmed somewhat.I can't help but think a very scary retest is due,but I never expected the bounce to be as strong as what it was on friday. It may be that a retest won't reach as low as tuesday's fall and we begin a higher low staircase type of climb. Time is getting short, as Nvls will announce earnings on the 17th and they are expected to be stellar JMHO. Semi equip's amat,klac Nvls are getting hyped daily on CNBC - it must be some kind of a top. I'm out in cash with 85% of my equity.I am playing with 15 % - hoping to enjoy the whiplash and wild emotions of what I'm hoping becomes a parabolic top complete, with feeding frenzy at a momentum top.I really want to give some mullet my ridiculously priced stock at maybe one half the wild valuations the nut stocks have enjoyed over the last 2-3 years. I visualize this gen x'r saying " I'm not worried I'm in it for the long run" as he looks at the overpriced empty bag I just handed him - nasty to say but maybe his head will fit in it.<g> It's a little ugly - but that's how greed usually ends all things that just get "TOO GOOD TO BE TRUE". Those who have the wisdom to recognise this will be forever much wealthier. In addition, I can't help but salivate on the awareness that successfully shorting this historical run up represents the NEXT GREAT WEALTH DEFINING MOMENT in my immediate future.Buying at a bottom can make you rich and it is easy to do.Shorting at the top I find is just plain harder to do.It sure can make you rich quick - how that escapes these momo investors is almost unbelievable. JMHO Bob

To: John Pitera who wrote (911)	4/12/2000 12:14:00 PM
From: Chip McVickar	Read Replies (1) \| Respond to of 33421

John, The second bar of a Lindahl Wiggle is now in place on all the Indexes 30 minute charts. The low of the 3rd bar is in place on all 3 major Indexes. In this half hour the markets need to close above the 11:00 bar close to satisfy this formation, and if so it suggest a good rally is possible. That high for the spoos is about 1507ñ compx about 3900ñ indu about 11345ñ However the 60 min charts still show a lot of weakness. Chip