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

To: John Pitera who wrote (4483)	8/28/2001 2:50:50 PM
From: John Pitera	Read Replies (1) \| Respond to of 33421

The weak consumer confidence has had a marked effect on the funds futures market. The pricing for the January contract now leaves a 3.23% expected policy rate as expectations begin to eye the possibility of a 3% funds rate. The last time funds were that low was during the trough of the post-recession ease. A sharp price jump in the March 2002 funds contract leaves expectations for a 3.28% targeted rate seven long months from now. The presumption of a quick retreat from the easing cycle once growth returns is fading with the stalled economy.

To: John Pitera who wrote (4483)	8/29/2001 9:43:27 AM
From: JWest0926	Read Replies (1) \| Respond to of 33421

John- <<<I'm highly confident that we'll have a meaningful rally this fall, but I've been preaching for a quiet, softer market for the summer, and then we'll have to see how the Fall unfolds.>>> I too expect a significant intermediate term rally this fall. This coming before most likely a fall to new lows, very likely new lows in the DOW. The Rydex #'s on the MITA board are calling for a rally now, but have been for a few weeks. Yesterday I initiated a long in ESCM. Looking for other undervalued growth stocks that have been overlooked for the last few months. JWest0926