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Strategies & Market Trends : Bonds, Currencies, Commodities and Index Futures -- Ignore unavailable to you. Want to Upgrade?


To: John Pitera who wrote (2326)2/7/2002 11:54:09 PM
From: Chip McVickar  Read Replies (1) | Respond to of 12411
 
Hello John,

Hope the trip was a good one.

>>btw, have you noticed the beautiful "W" pattern on the BTK.X daily and weekly charts. John it's a beauty and is good until 500 is broken cleanly. <<

That formation over the next few days after Jan 7 turned into a beautiful "M" pattern and the follow through was superb.

What do I see...!

Caution Flags:
Markets are weak and grumbling, and I believe they'll stay this way for another 9 months. NO CRASH....!

Right now I'm looking at selected utilities that have been hit hard by the Enron mess.
Like Duke Energy duk...Xcel xel....AES aes...

others like Duff and Phelps dnp
Then of course GE

To me the publics mood has shifted again..., from value growth and small cap growth to safe growth with dividends...., vehicles like Duff and Phelps should do well.

Also Bond funds like PIMCO

How about You..?



To: John Pitera who wrote (2326)2/8/2002 9:26:12 AM
From: Chip McVickar  Read Replies (1) | Respond to of 12411
 
John,

Further thoughts...the djia has:
#1....a triangle off 11/1/01low and 1/7/02high
#2....a diamond that mixes both an expanding and symmetrical triangle
#3....also a downward channel
#4....there are three pitchforks all with tines converging in this pattern.

We'll know next week if this is a continuation pattern or a reversal.
Take your pick....for now.