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 : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Chip McVickar who wrote (3381)	3/7/2001 12:35:42 PM
From: John Pitera	Read Replies (1) \| Respond to of 33421

The DJIA looks like it's just done a 3 wave move up to it's 200 dma @ 10700, this 3 wave correction, which started on the low the 3rd week of FEB is giving the bears a chance to get short, let's see if that pans out for them. New longs appear to be setting up in the bonds, evidently looking for a weak Number on Friday, there is some chance of the FED easing on Friday, on a really weak number. ------Long end still outperforming on the session with the June T-bond up 14 ticks at 105-02. Open interest expansion suggests some fresh longs coming in ahead of Friday's unemployment data. Economic calendar still providing the most influential direction for Treasuries. Recent stock bounce seems to be forcing accounts further back along the curve, though the bullish steepening trend remains largely intact. Front end expected to get some better help from renewed interest in yen carry trades. Dow failure to take out resistance at 10,700 also a plus, as is the continued underperformance of technology. Recent buying in Asian shares has largely come on the back of Nasdaq strength. Signs of a double-bottom on the SOX still stock-supportive, but recent bounce has been rejected by trendline resistance derived from late January.