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

To: John Pitera who wrote (2662)	8/17/2000 12:12:01 PM
From: Chip McVickar	Respond to of 33421

John, >>and I see that Ed Hyman has come out today and said that any time energy prices have run up in the magnitude they have this year or so, a recession has followed<< So far my work is squarely "Neutral" Nothing has kicked the s&p off it's consolidation channel established since March....nor the DOW since Jan. It's like a big coil and there are no clear signals to which way the market will head on a solid trend. Even Fed meeting is suspect in these light volumes as to which way the markets will move...? In any case my neutral stand requires me to take a position for no more then 3 days, then take another look and exit any change in ythe charts. But there are a lot of "talking heads" who have determined that a bear market is in place. I'm not ready to take that position, although much of what they say is very plausible. It's possible this flat consolidation will continue for another few months. One thing I will say..., if Bush is elected and his tax cuts go into effect.., that will cause another round of interest rate hikes as that stimulation would need to be countered with higher rates. I look for the end of parabolic speculation in sectors and an emphasis on companies that make something the world wants.... Have positive earnings, leaders in market share and a firm management footing. Not value..., but probably mid to high cap growth. Utilities are still a buy and the sector should establish a series of new highs..., they are a new set and sector of growth companies. Chip