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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: marginmike who wrote (2800)	5/4/2000 11:21:00 AM
From: J.T.	Respond to of 19219

marginmike, what have you been doing, hanging out in the bears den. ggg If you recall, early in our discussion when I came out of hibernation I mentioned NDX could trade as low as NDX 2,620 intraday in worst case scenario - And yes, I have been mentioning quite frequently the complacency of the Bulls - you can see it on the infrequent guerrilla rally and the money movemment in Rydex Long/Short funds still not near the fear levels yet. Need arktos above 200 million (now at 136 million) And you are right -the conviction is not there yet- No Liquidity. With BKX in trouble now BKX 750, I think if BKX closes below BKX 734 an assault on DOW 10,000 is again in the cards. Worst case scenario, DOW 9,200 and then the bounce. I still like this post FOMC May- June rally but a hard shake-out would make it more compelling. Best Regards, J.T.

To: marginmike who wrote (2800)	5/4/2000 11:27:00 AM
From: No Mo Mo	Read Replies (2) \| Respond to of 19219

MMike- I share your concerns about a dive. I am about 50% cash right now. I'm curious about your opinion. I have some GLW covered w/ May 200's. The premium to buy them back would be about $4/ea. In your opinion, would it be better to buy them back now and close out my GLW position or...sit tight and wait for all this to blow over. I understand this is your "opinion"...<g> TIA- Darin