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

To: J.T. who wrote (14108)	8/8/2002 3:05:39 PM
From: lifeisgood	Read Replies (1) \| Respond to of 19219

Agree J.T., The market is set to put the crimp in some overconfident shorts. Just took out yesterday's high on the SOX. What many amateur shorts don't understand is that short-term market moves are ALL about psychology and have nothing to do with fundamentals, double-dips, housing bubbles, etc. IMO we will see a VIX < 27 before bears will have anything meaningful to growl at. I went long some beta on 7/22. Most all are green at present. best... LIG

To: J.T. who wrote (14108)	8/9/2002 10:18:37 AM
From: russwinter	Read Replies (2) \| Respond to of 19219

<short funds in rydex INCREASED> Couldn't agree more. Also note how the bears are piling into puts during the first hour over the last three days: .92 this morning, just too aggressive. cboe.com And the VIX shows the fear, still at 43. I think we go higher in this rally (I'm not calling it a new bull market though). Pause that refreshes this morning. Biotechs tried to sell off today and quickly picked up bids. I think they've successfully disengaged from other tech so far.