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

To: Area51 who wrote (3296)	5/24/2000 4:31:00 PM
From: J.T.	Respond to of 19219

Area51, Market is always a humbling experience when one is on the wrong side of the market. Especially at extremes like yesterday. Unfortunately most on S.I. would rather talk about ones successful calls in market and ignore shortcomings. The market has whacked BULLS very hard these past three months first in the DOW and SPX and then more recently NASDAQ and all associated indexes. I hope we can get good follow thru in the market tomorrow in anticipation of China vote and nice pre-holiday Memorial weekend rally. Best Regards, J.T.

To: Area51 who wrote (3296)	5/25/2000 12:35:00 PM
From: J.T.	Read Replies (1) \| Respond to of 19219

Ralph Bloch from Raymond James via Jag Notes: May 25, 2000 ...<The DJI was up all day other than a modest dip to (DOWN) 53 around 1:00 p.m. NASDAQ fell to (DOWN) 120 at the same time and then came roaring back to close (UP) 113 and 106, respectively ? Bingo on our early morning call!! All of this with very odd and extremely low P-C Ratios. 89% at noon, 67% at the bell ? unusual for them to be so right even for 1 day. We?ll see what they look like today. If you use daily high and low figures we find that NASDAQ has just had a drop of 40%. We have been harping on the critical need for a sharp increase in volume on the downside and then the upside ? well, we finally got it as Big Board volume jumped to 1.131 billion vs. 862 million. NASDAQ rose to 2.021 billion vs. 1.24 -- solid volume. Maybe the ?Arms? index indicator survives after all? We are going to view this rally as a trading rally and one that actually might last a while. As of now, we are not dreaming about new highs by any stretch of the imagination>... ------------------------------------- Ralph has been sitting on the sidelines the last 3 weeks sitting in cash breaking out in hives waiting to put the money to work... fwiw Best Regards, J.T.