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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (2500)	6/29/2000 3:42:00 PM
From: X Y Zebra	Read Replies (1) \| Respond to of 33421

John, A question it occurred to me: If the government does away with the debt as the politicians seem to claim is doable in a few years, my assumption would be for overall interest rates to go down. (notwithstanding inflationary pressures due to energy or other issues). If so, this scenario would support higher equity prices in general, the question then is: Would AG, (or the acting chairman of the Fed when this takes place), continue to target the stock market price levels under the banner of "the wealth effect"? and if so... does this task belong to the Fed to carry out ? TIA.

To: John Pitera who wrote (2500)	6/29/2000 3:47:00 PM
From: Lee	Respond to of 33421

John,..Re:.the 30 year bond is increasingly affected by the US govt treasury buy backs that make it less liquid and hence more difficult to trade. or so goes the theory. Volume on the 30 yr has apparently dried up significantly as well making it less attractive. Also heard they switched out the trading stations at the CBOT between the 10 yr and 30 yr. <g> Volume shrinkage compared with Q299 shows in the chart below. govpx.com Finally, Bill Gross of PIMCO stated a few weeks ago that debt players are now using the swap market for market prices. Have you heard or read anything about that? Enjoy your thread from a quiet distance. <g> Cheers, Lee

To: John Pitera who wrote (2500)	6/29/2000 4:56:00 PM
From: Chip McVickar	Respond to of 33421

John, Remember you heard it here first...! Bonds are going to get a nose bleed shortly and revisit 92'19 futuresource.com Soybeans are about to close the gap at 512 futuresource.com Corn might as well follow along and see 231'6 futuresource.com

To: John Pitera who wrote (2500)	6/30/2000 12:59:35 PM
From: Jorj X Mckie	Read Replies (2) \| Respond to of 33421

John, Geez SI is really screwed up. Somehow you ended up on ignore. Looks like the canary is wheezing a bit. This is the P&F chart for MLNM. This looks like clear topping action, though it hasn't broken down yet ($110.00 would give a sell signal). CRA has a similar topping action, but it has broken down as of yesterday. I sold my MLNM position earlier today and will be clearing out all of my biotechs whether or not they have broken down. 146 146 144 X 144 142 X O 142 140 -------------------------------------------------------X O ----------------140 - 138 X O X 138 136 X O X O 136 134 X O X O 134 132 X O X O 132 130 -* ----------------------------------------------------X O X O ------------130 - 128 * X O X O 128 126 * X O X O 126 124 * X O X O 124 122 * X X X O X O 122 120 -----------* ----------------------------------X O X O X O X O ------------120 - 118 * X O X O X O X O 118 116 * X O X O X O X o 116 114 -----------------* ----------------------------X O X O X O X o-------------114 - 112 * X O X O X O o 112 110 ---------------------* ------------------------X O X O X ------------------110 - 108 * X O X O X 108 106 * X O X O X 106 104 * X O O X 104 102 * X O 102 100 -------------------------------* --------------X --------------------------100 - 99 * X 99 98 * X 98 97 * * X 97 96 X * X Med96 95 -----------X --------------------------X O * --X --------------------------95 - 94 X O X O * X 94 93 X O X X O X 93 92 X O X O X O X 92 91 X O X O X O X 91 90 -----------X O ------------X O X ------X O ----X --------------------------90 - 89 X O X O X O X O X 89 88 X O X O X O X O 6 88 87 -----------X O ------------X O X O ----X O ----X --------------------------87 - 86 X O X O X O X O X 86 85 -----------X O ------------X O X O ----X O ----X --------------------------85 - 84 X O X O X O X O X 84 83 X O X O X O X X O X 83 82 X O X O X O X O X O X 82 81 X O 5 O X O X O X O X 81 80 -----------X O ------------X O X O X O X O X --X --------------------------80 - 79 X O X O X O X O X O X O X 79 78 X O X O X O X O X O X O X 78 77 X O X O X O X O O X O X 77 76 X X O X O X O X O X O X 76 75 -O X O ----X O ------------X O X O X ----O X O X --------------------------75 - 74 O X O X O X X O X O X O X O 74 73 O X O X O X O X X O O X O X 73 72 O X O X O X O X O X O O X 72 71 O X O X O X O X O X O X 71 70 -O X O ----X O X O X O ----X ------------O X ------------------------------70 - 69 O X O X O X O X O X O X * 69 68 O X O X O X O X O X O X * 68 67 -O --O X --X O X O X O ----X ------------O X ------------* ----------------67 - 66 O X O X O X O X O X O * 66 65 -----O X O X O X O X O ----X ------------------------* --------------------65 - 64 O X 4 X O X O X O X X * 64 63 O X O X O X O X O X O X * 63 62 O X O X O X O X O X O X * 62 61 O X O X O O X O X O X * 61 60 -----O X O X ----O X O X O X --------------* ------------------------------60 - 59 O X O X O X O X O X * 59 58 O X O X O X O X O X * 58 57 O X O X O X O X O * 57 56 O O X O X O X * 56 55 ---------O X ----O X O X --------* ----------------------------------------55 - 54 O X O X O * 54 53 O X O X * 53 52 O X O X * 52 51 O X O X * 51 50 -------* O ------O X --* --------------------------------------------------50 - 49 * O X * 49 48 * O * 48 47 * * 47 46 46 45 ---------------------------------------------------------------------------45 -