Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: marginmike who wrote (4778)	10/6/2000 12:16:33 PM
From: J.T.	Read Replies (1) \| Respond to of 19219

marginmike, todays action is very real and will accelerate. Sit on your hands it is going to get ugly this afternoon and into monday, imho... Today is point of recognition for Bulls that something is not right. Watch for Rydex closing numbers from bobby bearra tonight to verify capitulation... I think DOW mus test DOW 10,480 on a minimum we are now down 83 to DOW 10,641... SPX 1,380 intraday minimum we need another 35 points downside as we are at SPX 1,416... I made a mistake selling Q early 73 1/4 as it subsequently hit my initial 84 target and has turned back down to 79 5/8... Now we are going to get one more opportunity to load up on Q low 70's high 60's if we are lucky... If supports hold on both macro indices and micro-issues today as I have posted over the past week or so then it is possible market is trying to identify support for a bottom. However, I will not discount todays break as it is very real... Especially with BKX and SPX. Best Regards, J.T.

To: marginmike who wrote (4778)	10/6/2000 12:43:12 PM
From: J.T.	Respond to of 19219

mike, if you watch 1 stock today like a hawk I would key in on MER... Above 62 7/8 and the market rebounds below it like right now at 61 1/2 and drifting near session lows 61 1/4 and forget any afternoon rally. It is that simple litmus test.. A break of 60 and short the hell out of the market or out of money puts throw a dart and short... HWP is up 1 1/2 right now to 89 3/4 another put candidate on a break of MER below 60... BRCM is only down 3 1/2 right now at 230 for an idea... Best regards, J.T.