Read -a-3


عضو نشط
24 سبتمبر 2001
For now the rally continues while ignoring bad news even after a
run of over +20% for the big indexes from recent lows. I still
believe those levels will hold until at least March or April 2002
if not beyond, but straight up bull run to new market highs will
not happen under current fundamental conditions.
Until then, play the tape and don't fall in love with upside
direction, it may soon break the hearts of those who do.

Market Sentiment
Russ Moore

Split markets, but the bulls will take it. The tech rally ran out
of steam as big cap tech stocks attracted some profit taking. The
NASDAQ ended with a loss of -0.4 percent while the NDX gave back
-1.6 percent. Blue chips carried the rally ball today with the
DOW gaining +0.9 percent.

Volume was respectable with 1.20 billion shares moving on the big
board and 1.98 billion shares changing hands on the NASDAQ.
Market breadth was positive on the NYSE, as winners beat losers
by an 18/13 margin. The NASDAQ, despite finishing in the red,
also saw winners edge losers by a 19/17 count.

On the broader markets, biotechs continued to soar with a gain
of +3.2 percent on the BTK. This index has been on fire of late,
gaining +39 percent since 09/25. Other sectors on the rise
included financial, oil service, oil, chemical, natural gas and
cyclical. Tech sectors were seeing red with Internet, hardware
and software leading the way down.

Michigan Sentiment held steady, moving from 81.8 to 82.7. New
home sales fell one percent to 864,000, slightly better than

The volatility indexes i.e. VIX/VXN, continue to fall and
although both are still at relatively high levels, they have both
moved to the bottom of their respective Bollinger Bands. These
indexes are contrarian in nature, and when they release from
their current levels and move north we will see stock indices
reverse course.

1. Buy ADVP above 64.24 (63.83).

2. Buy DKWD above 54.79 (54.23).

3. Buy RYL above 53.91 (53.48).

4. Short ACAM below 38.76 (40).

5. Short STJ below 71.10 (71.50).

6. Short WEBX below 32.85 (33.55).