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Strategies & Market Trends : Paint The Table -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (6910)	12/20/2001 4:18:05 PM
From: John Pitera	Read Replies (2) \| Respond to of 23786

I'll follow the JP report to keep up on that. you are right, JPM told us about the ENE situation. they now say they have more exposure than the previously thought. That came to light today. Things really fell apart today. Today was the day that the NASD and SOX, broke down. we could see the way the selling picked up as the day went on. Nasd is below it's 200 dma. SOX index dropped convincingly out of it's uptrend. BTK is looking like it made a right should are the 21 dma has rolled over and is now heading down, BTK could not get through it for the past 3 days. the XBD brokerage index looks like it's run out of seem and is goving sell divergences. We may want to look around for a broker or two to short. I've not looked at the companies yet. The DJIA has now tested it's 200 day MA twice and failed, so now it shold explore it's downside. Think about how the DJIA and SPX were propped up this week with GE talking about 2003!! EPS growth of 10% and C with it's accounting spinoff of Travelers property and causalty. The Govt failed to give us a stimulus plan. That may end up being a big failure, when we look back. And Argentina is now a gaining attention. Psychology really has shifted. It'll be interesting to see how the last week of the year goes.