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Strategies & Market Trends : January Effect 2003 -- Ignore unavailable to you. Want to Upgrade?

To: Londo who wrote (344)	4/16/2003 6:08:50 AM
From: RockyBalboa	Read Replies (1) \| Respond to of 666

Nasdaq NDX is running into a small hidden resistance area around 1095 perhaps, and I'm not even sure if it gets there. There was massive buying afterhours and so the futures drove against 1080. I might think they overdo it at some point. But not taking a position against the wind. The earnings yday (IBM, C, TXN, STX, etc. led the stock all way higher afterhours). Also INTC broke out from its triangle it has formed in weeks - to the upside. The GBL/TN trade differential widened to 27 points thanks to yesterdays' mini squeeze in the European bunds. The bullient stock market and the fact that the Europeans are behind in the interest rate cycle shall contribute to further improvements. I wonder whether the relative weakness is a secular trend (it started in December and is holding out till now).