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

To: J.T. who wrote (5535)	12/9/2000 3:30:11 PM
From: marginmike	Read Replies (1) \| Respond to of 19219

JT the COT guys are short the spoos(S&P) but they are long the NDX and tech areas. At least that is what I thought I read yesterday. If they are short S&p and long other areas could it just be a hedged position?

To: J.T. who wrote (5535)	12/11/2000 2:57:51 AM
From: herringbone_100	Respond to of 19219

thanks for your response. i think your advice re intermediate, albeit short-term, bull and longer term bear fits the available info. therefore i shall continue the 'guerilla trading' tactics you have mentioned before... sell on pops. the only thing that concerns me a bit is that there seems to be a growing consensus across SI that a 'melt-up' is imminent generally from the point of view that there is a lack of sellers left. i prefer it when everyone is very bearish and the Clown Killers thread is number one on hot topics.. no longer the case right now as everyone and their mother (besides the perpetual bears) seem to be calling up till jan-feb. anywhere from up to 3200 to 3800. hmmm.... i guess when in doubt, play cautious and fast. the question i have for you if you remember: last year around oct-nov the Y2K stuff was paramount in sentiment factor ... i largely discounted worries as i am programmer and thought it was largely overdone. therefore i was long all this time without much concern and didn't check regularly COT report during those months. do you remember the COT numbers at this time? no specifics generally requested, but if you were in the market during these months, do you recall if the commercials were actually short or long during months preceding Y2K? wondering if the COT has always been as reliable as market predictor as it has been this year... also, i found this interesting....sign of tighening up for next year. Senate OKs Bankruptcy Bill Despite Veto Threat foxnews.com by the way, i don't think that greenspan will allow any true BK to decimate the us markets, 'cause i assume the first order of business is to protect banks and their loans. nah, he doesn't care about the individual investor but they won't be destroyed (just decimated in degrees) as a happenstance to his efforts to protect larger interests... so i think those big bears calling for a meltdown next year are going to be disappointed. of course maybe i have to much faith in his abilities, he has lately made moves that seem questionable... i think what CAN undo us in the market are FOREIGN affairs. Israel, Iraq, growing german nationalism, asia, blah blah blah. tons of problems for whoever gains prez. office (and will be able to do nothing b/c of partisanship). ugly times ahead. i am watching for someone to rise up and lead us out of the morass... someone with the 666 sign! LOL! in the meantime, i'll keep reading your thread for good daily advice re market. regards, h.