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Strategies & Market Trends : Moufassa's Lair -- Ignore unavailable to you. Want to Upgrade?

To: ALTERN8 who wrote (13037)	5/6/2003 12:53:33 PM
From: James C. Mc Gowan	Respond to of 13660

Amazing continuation of this rally. Last night I looked at the Bullish % charts and the NDX/SPX charts. While there is no fundamental reason for this rally continuation, it is clear that the force is with the Bulls. There are very bullish triple top breakouts on both NDX and SPX from yesterdays trading, even with the mildly bullish closing numbers. Today there is a short term triple top on NDX/QQQ at about 28.70 building just over the past two trading days. Triple top breakout with triple top going into the FED. The Bradley points to a continuation of this rally well into June. The result is my hedging on short position is open on the long end, bought back covereds and have cheapo puts against common on Qubes. Hey, it's tough being short when Greenprint is driving the bus,gggg. Fortunately, my Canadian natgas trusts have boosted my accounts by 17% just in past few months, is spite of my inherent bearishness on US markets. Here's hoping for a hot summer,ggg. If I am ready to go long on tech/NDX, it must be time to cover,gggg. 1520 is a big deal to me. Even with a minor pullback at this important threshold, the charts are screaming BUY. Amazing. I guess Greenspan wasn't kidding about pumping it up, any number of ways. Congrats to those who had the sense/skills to go long this rampo. If we correct a little here at 1520, I'll be riding the bus to the Hamptons with you, likely well into June. James