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To: Les H who wrote (1211)	12/26/2001 12:26:00 PM
From: yard_man	Read Replies (1) \| Respond to of 29592

nice for the charts -- I think the fellow will be prove to have been far too optimistic

To: Les H who wrote (1211)	12/26/2001 5:06:33 PM
From: Les H	Read Replies (1) \| Respond to of 29592

WHAT TO EXPECT NOW. December 24, 2001. Ord Oracle. Seasonality is favorable this week and may hold the market up. However, the fact remains the VIX is at a low level where market tops normally occur. Today, the VIX hit another new recent low trading at 22.79. The "Percent Volume" came in today at .55 and in bearish territory. In candlestick charting on the March S&P a "Bearish Midpoint Harami Line" was drawn. There is a possibility the S&P may test the high of December 19 and make a double top before heading down. The test should occur on lighter volume for a bearish scenario to materialize. The hourly average tick index readings are moving up and may hold the market up for the next day or so. We are short a ½ position on the SPY at 115.30, with a stop at 116.30. We covered ½ at 114.50 for .80 gain. In candlestick charting on the NDX a "Bullish Midpoint Harami Line" was drawn. The "5 day ARMS" on the Nasdaq closed at 7.77 and is near bullish territory. These two conditions may stabilize the NDX market for a short while and even produce a bounce. The McClellan Oscillator on the Nasdaq is below the "0" line and implies this market is weak. The VIXN is at a low level and implies the NDX is near a high. Seasonality is bullish this week and the NDX may hold up and even bounce some this week. However, the bigger picture is bearish because of the bearish reading of 49.44 on the VIXN (readings below 52 are bearish) and McClellan Oscillator readings. No new trade on the NDX. marketweb.com