To: StockOperator who wrote (429 ) 2/19/2001 12:39:13 AM From: Berney Read Replies (1) | Respond to of 52237 SO, I've become one of your fans! You really have given some great input and I appreciate it enormously. Let me share the Big picture as I see it. The DJIA on the the weekly charts is in a very clearly defined diamond formation. The pivot points are about ~10,500 and ~11,000. A break in either direction yields a move of some 2K points or about 20%. The resolution, or apex, is before the first week of June. So, are we going to 13,000 or 8,500? Only pioneers need speculate. Others can sit back, relax and watch the entertainment. The bigger picture is the NDX. I have the Q's lower most pivot point at $54.30 and the upper ~$60. The resolution on this puppy is in the next 2/3 weeks and, IMHO, it will provide the answer to the puzzle. If it closes below $54.30 then I have to go learn some new TA methodology, as I don't know where the bottom is. I'll place my bet here and sell below the down trend IF on Tuesday the fed is supportive of the expansion of monetary policy. If they decline to play, neither will I. So much is focused on interest rates, but I've come to believe that don't fight the fed means watch what they do, not what they say. In other words, as a friend long ago told me, follow the money. Now, then, some of us do believe that there is a PPT that will not permit the puppy to break as it is simply not in any one's best interest for that to happen. I can only "hope" that the powers that be understand that any further reduction in equity prices will obliterate the world economy. Alas, I really don't know the currently agreed upon agenda of the trilateralist community. Then, this is Just a View from the Swamp. Berney