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

To: OVETUS who wrote (6767)	2/24/2001 4:44:56 PM
From: macavity	Respond to of 19219

Ovetus I was just thinking aloud. All the shorts appear to be covering or buying upside calls. No-one wants to get goosed by Greenspan again. I feel that since thursday a.m. or so the clock has been ticking for this rate cut. If it does not happen then the selling starts again (IMO), if it does well who is going to be surprised ?. The market has mostly discounted any pre-meeting rate cut. Like 02/03Jan we need a mini-capitulation to happen B4 the rate cut for it to be effective to ensure a 1 - 2 mth bear market rally. Until the capitulation the market is still in the sell-the-rally mode, rate cut or not. QCOM. I have never understood this stock, and I do not trade it as it is usually out-of-sync with the NDX. However I recognise a broken head-and-shoulders formation when I see one. My time horizon is usually more than 1 week, so I would look to sell this on any rally if it ever thought of returning to the 75 region . Short-term who knows - it is a cult stock. Do not use this advice, as I really do not like this stock, it is just too crazy for me. My only plan for world domination this week is to short some UTIL shares (again!). UTIL < 385 and 21DStoch crossed down from 80%. This rally has not convinced me and I think the tide has turned. If DRG < 400\|397 then look for the rotation out of defensives. Do not ask me what into though. OSX/XOI/XNG look to have broken short-term supports (I need to look). Good weekend all. -macavity