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

To: Logain Ablar who wrote (5087)	11/16/2001 11:55:18 AM
From: John Pitera	Read Replies (1) \| Respond to of 33421

Hi Tim, I've finished up with DYN and ENE, I do see that DYN gave investors and traders a chance to sell or short DYN at it's 200 dma a few days ago stockcharts.com[w,a]daclyymy[pb50!b200!i!b21][vc60][iUb14!La12,26,9] some things don't change and also note that the max dollar volume concentration for DYN is at 47, I have a post from earlier this morning elaborationing on this tool. Barbara Mensch has used max dollar volume concentrations to great success in the note and bond futures market the past few years. She's been on cnbc a number of times. changing gears, briefing.com had an interesting note yesterday, showing that come credit spreads have come in quite a bit since 9-11. They focus on F, GM DCX 5 year commercial paper which has come down 60 points closer to the benchmark, and JPM and BAC 5 year paper that has narrowed by 35 basis points. This shows how there is less strain on the financial system, and that saavy lenders and borrowers are feeling the economy is less likely to drift into a serious recession, with corp. debt defaults etc. One caveat of this is that credit spreads are narrowest at stock market tops, and widest near stock market bottoms, as there is greater concern of the markets downtrend snowballing even further downhill. 07:56 ET 30-year: -13/32..5.050%....GNMAs: unch....$-¥: 122.18 We were just sent some levels by a bond fund manager that are indicative of the performance of the corporate debt market since the beginning of September. And frankly, the magnitude of spread tightening caught us off guard. The indication we got, which originated from a dealer desk, is that Since September 2nd, 5-year Ford, GM and Daimler Chrysler paper have all come in by 60 bp! And, lets not just limit this to autos, Bank of America and JP Morgan 5-years have both come in by 35 bp! How about that!

To: Logain Ablar who wrote (5087)	11/16/2001 11:58:48 AM
From: John Pitera	Respond to of 33421

GM-- Internet--- riddle us this... what do you think? If briefing is right about this being an emerging trend in industry to increase internal efficiencies, could this perchance benefit... you know who? Or is it still a pipe dream -g- ---------------------- Interesting tidbit out of General Motors, as we would note that the world's biggest automaker recently announced that it will move its Internet unit into the main body of the company. Of course, such integration is not particularly surprising when considering that the bursting of the technology bubble has exposed the excesses surrounding the multiple production and service platforms implemented to take advantage of a new economy mentality. In addition, it is important to remember that such excesses were not limited to plant and equipment investment, as labor was added to maximize capital deepening. However, in the face of a structurally-weaker demand profile, restructuring has forced corporate America to alter its focus. Given that expansion strategies have proved to be inherently unproductive, investment is now being directed towards the promotion of internal efficiency. Of interest, this may be one of the more influential drivers of GM's decision to scrap plans for a joint venture with its US dealers to attract a new customer base.------