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

To: Stoctrash who wrote (3721)	4/11/2001 2:14:23 PM
From: John Pitera	Respond to of 33421

You got to love his logic......things are so bad, they must be getting ready to get better....... does that always woirk?? -g- CY had no orders in their March Q???? CSFB not sure they see the same thing: 11:35 ET CSFB Chips at Joseph Call : CS First Boston not completely sold on positive semiconductor call issued this morning by Salomon Smith Barney analyst Jon Joseph, according to sources at the firm; CSFB does not think inventories have bottomed (looking for this to occur around Sept); moreover, does not think that DRAM pricing is firming.

To: Stoctrash who wrote (3721)	4/11/2001 3:54:39 PM
From: John Pitera	Read Replies (1) \| Respond to of 33421

Fred, as I see it, we're near resistance in a few places.....both the SPX and NASD are near resistance, it one looks at say the last 15 or 18 days of say 30 minute bar charts, we can see the NASD resistance around 1940-50 and the SPX resistance around 1175-80. the market has sold off the last few times we have tried to set up such a base building period, since Late January. The market will need to close above both of these resistance areas for two days, to really enhance a bullish outlook. The DJIA has retraced and failed at it's .618 retracement (Near 10180) of the early march decline. So that could be setting us up for another down leg. I can see why Todd Harrison over at Real Money is putting on a few new shorts in here. we've got economic numbers and some earnings numbers tomorrow, especially GE, and JNPR.... RMBS should have interesting things to say -g- But the trend should continue to conceal itself until next week. John