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

To: J.T. who wrote (5746)	12/21/2000 3:40:30 PM
From: David Lee Smith	Read Replies (1) \| Respond to of 19219

I forgot to mention that I remain 100% in the Pro Funds Ultra Bear (2xS&P). Everywhere I look I see bulls. The options guys are buying calls big time, I see you're joining in, even my bearish friend STGG is looking for a bottom. I'm sorry gentlemen, I will remain the lone bear. Although I also see signs of capitulation, but it takes time to reverse a trend. It's like seeing the highway ends sign but traveling too fast to stop. You know you need to turn around, but you can't apply the brakes fast enough. I look for a sharp decline tomorrow as the bulls rush for the exits. They will wake up and see that suddenly everyone has gone bullish at the same time and realize it was the bulls, not the bears facing true capitulation.