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

To: marginmike who wrote (3453)	6/6/2000 11:00:00 PM
From: J.T.	Respond to of 19219

mike, I wouldn't call myself a flaming Bull right now. Just said this late may - June timeframe was our best chance for smart rally. Next few days are important for the Bulls if this rally will continue to broaden out the phantom run... I do not like profit picture in July. It will not match April and the market sold April's peak earnings. There will be indivdual standout winners to be sure... JDSU, VSH, SDLI etc but there will be plenty more disappointments ala EFII and CC. Best Regards, J.T.

To: marginmike who wrote (3453)	6/6/2000 11:37:00 PM
From: J.T.	Read Replies (2) \| Respond to of 19219

Mike, Commitment of Traders (COT)Report BEARISH: Data for the SPX 500 Futures contracts thru Friday May 30th (updated weekly), The Large commercial traders- (banks, brokers and mutual funds) have moved to a record net short 37, 700+ contracts. This is the supposed same smart money that was also net short BIGTIME right before October '87, October '97, and April '98 market collapses. However, these commercials were also net short several times since 95' and were burned bad. Commercials were burned bad this past week as well as this data was thru 5/30 right before the monster SPX 3 day gains on 5/30, 5/31 and 6/2. It will be very interesting to see what the new net short position of the commercials is this week - The data comes out Friday night. It used to be that anytime the commercials were net short position in the SPX for an extended time, a downturn was imminent. Best Regards, J.T.