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

To: John Pitera who wrote (4200)6/28/2001 3:11:07 PM
From: John Pitera  Read Replies (1) | Respond to of 33421
 
The Euro is getting killed today down almost 2 cents from .8610 to .8430. The USDollar index is having a very
strong day.

a somber little missive from Briefing.........

------------

A trader we just spoke to put a decent damper on some of the optimism surrounding the prospects of a nearer term recovery that is circulating the market. Now, this is not because the trader is a cynic (all the time, that is) nor is it because we had our heads in the clouds. It has much to do with daily conversations we have with the street who seemingly change their stance on the macroeconomic picture at the drop of a hat (or an initial claims figure). We were recommended to take a look at some top stories on Bloomberg News to support this position and here are some headlines we ran into: "DaimlerChrysler's Freightliner Unit will fire 1,120 North American workers," "FedEx fiscal fourth quarter profit falls 22%," "Deere to cut 8% of U.S. salaried workforce," and "Airlines face worst slump in almost a decade amid slowing economic growth." Not to paint too dark a picture, but we are certainly not out of the woods yet. To this end, it is way too early to shut the door to continued easing and subsequent steepening



To: John Pitera who wrote (4200)6/28/2001 3:42:17 PM
From: Jorj X Mckie  Read Replies (2) | Respond to of 33421
 
John,
I am looking at a retrace up to 2225ish, a pullback and
then a breakthrough to the upside. We have a low pole
reversal on this latest run and I think that Greenie may
finally have done the right thing with the rates. I think
that he is slowing down before he actually sees the
reversal and letting the rate cuts take effect.

stockcharts.com

2,875.00 | X + | | 2,875.00
2,850.00 | X O X + | | 2,850.00
2,825.00 | X O X O + | | 2,825.00
2,800.00 | O X O X O + | | 2,800.00
2,775.00 | O X O X O + | | 2,775.00
2,750.00 | O X O X O + | | 2,750.00
2,725.00 | O O X 2 + | | 2,725.00
2,700.00 | O O X + | | 2,700.00
2,675.00 | O X O + | | 2,675.00
2,650.00 | O X O X + | | 2,650.00
2,625.00 | O X O X O + | | 2,625.00
2,600.00 | O O X O + | | 2,600.00
2,575.00 | O O X + | | 2,575.00
2,550.00 | O X X O + | | 2,550.00
2,525.00 | O X O X O + | | 2,525.00
2,500.00 | O X O X O + | | 2,500.00
2,475.00 | O X O X O + | | 2,475.00
2,450.00 | O O X O + | | 2,450.00
2,425.00 | O X O + | | 2,425.00
2,400.00 | O O + | | 2,400.00
2,375.00 | O + | | 2,375.00
2,350.00 | O + + | | 2,350.00
2,325.00 | O X + | | 2,325.00
2,300.00 | O X X O + | | 2,300.00
2,275.00 | O X O X O + | | 2,275.00
2,250.00 | O X O X O X + |High| 2,250.00
2,225.00 | O X O X X X O X O | | 2,225.00
2,200.00 | O X O X O X X O X X O X O | | 2,200.00
2,175.00 | O O X O X O X O X O X O X O | | 2,175.00
2,150.00 | O X O X O 5 O X O X O X O X | | 2,150.00
2,125.00 | O X O X O X O X O X O X O X | | 2,125.00<
2,100.00 | O X O X O X O O X 6 O X |Avg | 2,100.00
2,075.00 | 3 O X O X O O X | | 2,075.00
2,050.00 | O X O X O X | | 2,050.00
2,025.00 | O X X O O X | | 2,025.00
2,000.00 | O X O X O X | | 2,000.00
1,975.00 | O X O X X O | | 1,975.00
1,950.00 | O X O X X O X X | | 1,950.00
1,925.00 | O O X O X O X O X |Low | 1,925.00
1,900.00 | O X O X O X O X | | 1,900.00
1,875.00 | O O X O X O | | 1,875.00
1,850.00 | O X O X | | 1,850.00
1,825.00 | O X O X | | 1,825.00
1,800.00 | O O X | | 1,800.00
1,775.00 | O X | | 1,775.00
1,750.00 | 4 X | | 1,750.00
1,725.00 | O X | | 1,725.00
1,700.00 | O X | | 1,700.00
1,675.00 | O X | | 1,675.00
1,650.00 | O X | | 1,650.00
1,625.00 | O | | 1,625.00
1,600.00 | | | 1,600.00
1,575.00 | | | 1,575.00
1,550.00 | | | 1,550.00
1,525.00 | | | 1,525.00


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