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

To: Dan Duchardt who wrote (12635)	6/10/2002 12:27:29 AM
From: lifeisgood	Respond to of 19219

Dan, The chart I posted was on the e-mini and I lifted it from someone else. It looks like the commercials are becoming bullish on the Nasdaq 100, at least as reflected in their position in the regular Nasdaq 100 futures contract. I'm not convinced they are actually bullish on the nasdaq. Instead, they may be hedging their long put positions or who knows what else. If I see a complete dump this week on the nasdaq, I might be tempted to trade a little on the long side myself but only as a trade. The market is sick and recovery is some distance off IMO. I'm sticking with my prediction that we will break the September lows, bounce to pull in the last bottom-is-in-and-I'm-not-missing-the-train suckers, and then we'll see a nasty little train wreck. We will eventually start a cyclical bull market from much lower then even most bears are predicting now. best... LIG