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

To: J.T. who wrote (12573)	6/5/2002 12:19:12 PM
From: robert b furman	Respond to of 19219

Nice to hear a rare confirmation. Thanks I needed that.gg Bob

To: J.T. who wrote (12573)	6/5/2002 12:19:55 PM
From: dvdw©	Read Replies (1) \| Respond to of 19219

Fleck continues to beat the drum that prices are too high. His piece this morning is one big generalization without consideration of the facts, he seems to think that the market is only CSCO, INTC etc.... when in fact I've added Small cap defense this morning at prices that are to say the least extreme values considering forward fundamentals. Many on these boards dont do fundamental analysis but follow charts and gurus of charts to the nth degree. It's these people who are in for a big surprise, as capital rotates to value, you dont here anyone telling the truth about this, building positions takes time, with the help of hedge funds this market is caught in a down draft that will eventually be corrected. Small Cap and Defense in general never participated in the bubble. These stocks are trading at well below every metric for fair value compared to the stocks the trade community lives on. The feds will spend big and there will be beneficiaries of that spending, the whole sale shorting is about finding supply cheap, so is it any wonder that those doing the Obfuscating have their PR machines cranking out the same ole story day in and day out. Capitulation, just like greed has two sides, Capitulation and sentiment are matched both evenly to bulls or bears. Money flowing to dynamic forward performing sectors, requires that Shorts cover, while money locked in over priced issues demands longs give them up. Rotation is essential to break the stalemate. It's building and will soon be clear to all. Some Lock ups are clearly manifesting themselves in trading. Obfuscation is the 4th dimension of stock investing and it is becoming clearer to all who notice, that capitulation is a two sided coin.

To: J.T. who wrote (12573)	6/5/2002 12:27:53 PM
From: t2	Read Replies (1) \| Respond to of 19219

Investors Intelligence continues to diverge as with the new reading 53% Bulls and 29% Bears JT, I believe bulls went down to 48% this week. That according to Pisani (cnbc) in a report earlier today. It had been over 50 for so long. He seemed to suggest this drop was bullish for the markets. Now it may be moving towards what MarkeVane and AAII---both of which indicate very little bullishness. What do you make of the ratio of rydex NDX short fund versus the NDX longs. I calculated it around 22%. Is that very high compared to months past? thanks. All this alligning itself for ramp up to max pain on QQQ--32 at this point; short term rally. Anyone recall how economic data was good ahead of Cisco earnings last month and the market went nowhere but took off right after the earnings report. I think we are going to see a replay of this. Short term the odds favor an EXPLOSIVE rally. jmho