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

To: marginmike who wrote (2965)	5/16/2000 3:34:00 PM
From: J.T.	Read Replies (1) \| Respond to of 19219

Nice going Shark. <g>I think FOMC words immediately priced another 50 basis point expectation for June Fed Funds contract. If there is ever an opportunity to buy puts for 1 or 2 days - Right now is your chance. Best Regards, J.T.

To: marginmike who wrote (2965)	5/16/2000 4:28:00 PM
From: J.T.	Respond to of 19219

mike, I have not changed my stance for this next hard leg up - just some consolidation in here to digest recent gains. It is possible that this go round - options expiration will have downward bias over the next few days after strong open tomorrow. But next week we will be much better poised for that break-out and the next phase of this rally will accelerate. I am looking for BKX to go test BKX 780 and potentially get one false reading close below this level. If it materializes, I will go LONG into that close. BKX closed at BKX 792.50- down 12 1/2. Best Regards, J.T.