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

To: bobby beara who wrote (4745)	9/29/2000 7:29:55 PM
From: UnBelievable	Respond to of 19219

I'd like to see it take out that dt line as well as the 11/8 gap top which seems to be slapping it around a bit as well.

To: bobby beara who wrote (4745)	9/29/2000 7:48:06 PM
From: UnBelievable	Read Replies (1) \| Respond to of 19219

I Crashed The Market Having my shorts turn red from the paint the last couple of eoq's I figured that I'd take a walk on the wild side and go long. Bot JNPR before the close yesterday and actually held a long position overnight. Sold it for a quick 8 pts first thing in the morning. Piece of cake - I thought this is what trading is supposed to be like; Maybe I'm just making it harder than it is. Traded it long and short during the day and made a few points. During the day long or short don't really matter - sell buy buy sell - same ol same ol. So it gets to be time for the afternoon rally and I spot the dip (I'm used to looking for those cause that's when I cover). Dis time I KNOW there is NFW that the Boyz are going to let mighty JNPR go down for the eog. So I bought the dip - well the rest is history , along with most of my gain from the morning. I will admit it was real easy to book that loss though - no way I'm holding a long position over the weekend. I expect the market to rally for a least a few days because it will be a while before I hold a long overnight again.<gg>

To: bobby beara who wrote (4745)	10/3/2000 12:59:23 AM
From: J.T.	Respond to of 19219

Bobby, I would say HIFN was repelled back down from that trendline faster than gold bullion was repelled back from 280 per oz last week. That gap upside open today in NDX and SPX was doomed to fail just look all past upside gaps of the last two weeks... Fridays action on the one day false upside break was enough for me. NDX breaking back down below NDX 3,580 on Friday after closing over 100 points higher on thurday was all she wrote for me on the long side rydex-wise. I turned 50% NDX Short on Friday close and still held my 50% XAU Precious Metals Position. Today I switched to 50% SPX Short and maintained 50% XAU Precious Metals. You notice the Rydex Long Funds have still not inverted. This wreaks of havoc dead ahead: Dynamic SPX Long/Short Funds last 2 days says it all: 9/29 10/2 SPX Long - TITAN 95.5 Million 93.4 Million SPX Short- TEMPEST 8.5 Million 9.4 Million The money is holding long waiting for the bounce that is nothing more than 1 day wonders of late. Best Regards, J.T.