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

To: John Pitera who wrote (4036)	6/7/2001 2:06:37 PM
From: John Pitera	Respond to of 33421

with the SOX rallying so strongly and now within 10 points of it's 200 dma, just as well get ready for INTC's post close guidance meeting; We are probably making a top here in the SOX that will be sold. and since tech has been dancing to the tune of the SOX (semiconductor index) price movements, we would see some selling across tech, over the next several days. so goes the theory..... It will be bullish if the SOX is soaring upward tomorrow, but I don't think that will happen. The bond and treasury notes have had open interest contracting on the really of the past week or two. Open interest has decreased 15% or so. This means that shorts are most likely covering and hence this is a bear market rally in bonds and notes and that we'll be heading lower in price/higher in yield over the next few weeks John

To: John Pitera who wrote (4036)	6/7/2001 2:06:59 PM
From: John Pitera	Respond to of 33421

with the SOX rallying so strongly and now within 10 points of it's 200 dma, just as well get ready for INTC's post close guidance meeting; We are probably making a top here in the SOX that will be sold. and since tech has been dancing to the tune of the SOX (semiconductor index) price movements, we would see some selling across tech, over the next several days. so goes the theory..... It will be bullish if the SOX is soaring upward tomorrow, but I don't think that will happen. The bond and treasury notes have had open interest contracting on the really of the past week or two. Open interest has decreased 15% or so. This means that shorts are most likely covering and hence this is a bear market rally in bonds and notes and that we'll be heading lower in price/higher in yield over the next few weeks John