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

To: ekn who wrote (1309)	4/25/2000 8:35:00 PM
From: Jorj X Mckie	Respond to of 33421

ekn, There certainly are a few people giddy. I am one of them. I worry more about the fact that the bears are not seeing this as a "sell the rally" opportunity. Either way, are you aware that CSCO's earnings are on May 8th? CSCO is one of the more predictable stocks going into earnings. Just a thought. JXM

To: ekn who wrote (1309)	4/25/2000 11:18:00 PM
From: John Pitera	Read Replies (2) \| Respond to of 33421

The Fed Fund Futures are pricing in a 2-3% chance of a 50 basis point Fed Hike in May. That's what the June Fed Funds futures are indicating. The Continued weakness in the EURO makes it extremely difficult for the FED to move by 50 basis points in May even if the NASD was blazing ahead at 5600. Interest rate differentials are such that if you are short the USD you are getting buried on your position, even if the currencies do not move at all, do to the carrying costs of holding a short USD position. A short USD position costs you points every day, and this undermines USD shorts like an undertow laps back into the Ocean, Castles Made of Sand. Thus goes the Global Flow of Funds. John

To: ekn who wrote (1309)	5/23/2000 2:47:00 PM
From: ekn	Respond to of 33421

and added another 750 shares short on csco [that was added to my 800 @ 65] as i feel strongly this issue will breakdown near term. when everyone is giddy i sell and everyone is giddy! i still see nasdaq 2700-2900 by e-->q2 and csco leading they way back to 35--40 range. i remain convinced that there will be a 50 point basis hike and 1 more solid economic bump in the road to turn sentiment. also, nasdaq lost it's leader msft. i don't see it <71 that's 250 billion in cap and i choose to believe csco will noy break resistance @ 70