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Strategies & Market Trends : Piffer OT - And Other Assorted Nuts -- Ignore unavailable to you. Want to Upgrade?

To: Don Pueblo who wrote (53691)	9/24/2000 3:22:26 PM
From: Jorj X Mckie	Respond to of 63513

I can honestly say that I have no idea. Very mixed signals. -Gold appears to have bottomed and looks ready to move up -Crude and Heating oil look to have topped and look to be continuing down. (though maybe due for a little bounce) -Similarities on the Naz P&F chart between the two peaks in March & April and now (July and September) are remarkable and make me think that 3100 can be tested. -If we continue up from here, it would indicate a successful test of the 3600 support level. On the 75pt chart, it looks like we are setting up a triangle. 4200 looks like pretty solid resistance. -Naz bullish percent (BPOTC) has a series of higher highs and higher lows. If we turn up from here on the BP chart, I expect a pretty strong rally. -SPX, need to go to a 20pt chart before it stops scaring me. -DJIA 10300 looks like a nice support level, but not a lot of reason to be that bullish. -Tick never got low enough to indicate capitulation on Friday. -VIX broke through the BRL, last time this happened was the end of March. -U.S. dollar looks to have topped and gave a sell signal. But it also looks like it could bounce from here. So, I guess that for the short term I am bullish...maybe very bullish. But I think that the next rally could be a blowoff top and it might be good to be cautious on the long side. I believe that the elections are going to be the inflection point. I think Friday was good proof that they will step in front of the bullet and stop any serious decline in the market. After the elections, I think that it will not matter who wins, the market will sell off hard. They will have 4 years to fix the economic damage and by then, a crash in 2001 will be a vague memory and they will likely blame it on Eminem or something. If nothing else, Monday should be interesting.