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

To: marginmike who wrote (11810)	4/27/2002 12:59:35 AM
From: J.T.	Respond to of 19219

I will work backward first: 1)P/C .70 at worst?? Where you get this figure? Equity only? CBOE Equity Index P/C Ratio closed today at the worst level for the day @ .84. In other words, today was a window dress con job by the boyz in the last two hours of trading. Just what I love to see. I see today as nothing more than a one day false break. My only contingency to this one day false break theory is no exogenous shock between tonight and monday. Any 'e' shock will create fear and panic in the market and take on a life of its own. Ysterday was .79, and Wednesday was .77. 2)Greenspan is gona sit tight on raising rates UNTIL he sees capital spending picking up. No raising of rates for a minimum of 3 months. No similar mistake like Japan premature raising of rates - got 12 year Nikkei Bear(Now BULL Mkt)? Once he starts raising it will be incrementally and by that time the market will be well off the bottoms from where we are RIGHT NOW. 3)unemployment is not declining. Correct. It is stabilizing. No soup lines here and no 8% unemployment dead ahead. Since when you becoming more of a funnymenalist? <g> Best Regards, J.T.