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

To: marginmike who wrote (7446)	3/23/2001 2:46:46 PM
From: J.T.	Read Replies (1) \| Respond to of 19219

I agree with what you say. Here is my repost MITA 6799: ...<To:bobby beara who wrote (6794) From: J.T. Monday, Feb 26, 2001 4:00 PM View Replies (1) \| Respond to of 7447 JT, i just think your call of a bottom is premature That is great and where we can agree to disagree. That is what makes markets. Very well respected opinions like roque and peroni believe we could go down another 10% or COMP 1,800. On the other end of the spectrum, applegate and kirschner are saying we are going higher right here and now and significantly higher into the end of the year. Markets move higher with corp earnings registering rates at 0-5% not 15-20% as they were at the peak in march and beyond according to first call.. Expectations have finally been beaten down enough that we have can and will move higher from these levels. also rydex nova should capitulate and ursa should be over nova, just like october 99 bottom when sNp was back in this area, too much complacency, i would like to see much more fear. I disagree. I don't think we have seen back to back to back money market rates above 1.4 billion in a long time. In 98 they were fightiung it on the way up.. You won't see those inverted numbers unless/until SPX gets down below SPX 1150>... ******************************* This post was on February 26th before SPX broke my SPX 1,230 support on March 12th. I have stated unequivocably a break of SPX 1,230 would take us lower in the archives. I also nailed the inversion on the head. NOVA URSA did not invert until after our first close closed below SPX 1150.** Can we invert lower in a further protracted down market? Absolutely. Bobby is correct in stating there was a brief inversion in October 99. My mistake. I have no prob admitting mistakes. And in a further protracted market from these broken supports vis SPX 1,230 and DOW 10,300 which did not materialize before this post we certainly could get 3/1 short over long in URSA/NOVA if SPX vsit sub SPX 1,000 and DOW visits DOW 8,300. I simply never entertained this thought until 1230 and 10300 were busted up.. All the best. All 4 indices to close UP for first time since December 22nd if they can keep NDX green... Best Regards, J.T.