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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: Dan Duchardt who wrote (10520)	2/16/2002 10:18:27 PM
From: At_The_Ask	Read Replies (1) \| Respond to of 19219

Good point Dan. I drew a trendline across the two peaks before the current one and believe it or not the current peak is below the projection. Not by much but still below. I'm short but nervous at the moment. I was actually pretty complacent till I saw that chart.

To: Dan Duchardt who wrote (10520)	2/17/2002 12:14:59 AM
From: Dexter Lives On	Read Replies (3) \| Respond to of 19219

Hi Dan, I think of that chart as an indicator, not even suggesting it as a reliable one. I get your point about correlation vs. cause and effect; it's the correlation that interests me. In the extremes, it should be a warning sign of significant risk. That bear/bull ratio is going to the moon, and the recent history suggests short positions may be dangerous to hold on to. If I'm sitting on short position gains, I may want to book or hedge them based on that chart; but that's just me :^>. It's just one more thing to look at, but the evidence appears compelling. Of course that ratio could go a lot higher before it reverses... Cheers. Rob