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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (48645)	4/29/2000 12:31:00 PM
From: Box-By-The-Riviera™	Respond to of 99985

Les... not sure Hutch stands as an indicator equal to its former importance... a lot has happened since those days when disk drives and other such components were for example less comoditized and more central to indicating the health of the pc driven technology market.... the market is no longer, in my view, pc driven and has not been for quite some time.... and where it is storage driven the best you could say for hutch and the drive makers would be demand for disk arrays in large storage farms....though that would not alleviate the commodity issue.... network control (software),storage management (software), fiber/improved copper/satallite/wireless, switches, and the latest member, web solutions in varying categories would each be barometers.... capex in regard to pc's I think have maxed...in that pc's have evolved into the "fast enough" case number one, and large storage on the individual pc is both common and a dime a dozen.... however, one exception might be servers... any slowing there might well be the new hutch for everything else on a level or two. just some thoughts..... J

To: Les H who wrote (48645)	4/29/2000 1:19:00 PM
From: Les H	Respond to of 99985

Stock Market: optionstrategist.com There has been heavy equity option put buying in the last two weeks. This has forced the put-call ratios to the highest levels since last fall. This means they are in the throes of sell signals, and have not given buy signals yet. Buy signals will only occur when they roll over and begin to head downward. Computer analysis of the ratios shows that none are anywhere near a buy signal now. One other related chart is that of the S&P 500 futures options. There has been heavy put buying there, too, although like the others it has not yet rolled over to a buy signal. So, are we bearish? The answer is "no", because our oscillator which is a more short-term indicator gave a buy signal last week. Our oscillator is based on the number of advancing and declining issues on the NYSE, rather than on put-call ratios, and hence it can generate independent signals. It will remain on a buy signal unless it falls below minus 200. If that occurs, we would immediately turn bearish again. But, for now, we remain bullish on the broad market.