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John
do not rush to buy at globex
You will have intra day tomorrow a chance to buy from a LOWER low
(estimated at -7)
Ben
----- Original Message -----
From: "John Cappello" <jvc689@xxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Cc: <MedianLine@xxxxxxxxxxxxxxx>
Sent: Sunday, July 21, 2002 2:22 PM
Subject: [RT] Mon. S&P
>
> There is no question that the downtrend is still in place. However, I
> believe that there is opportunity on the long side at current close
> of 844 for a reasonable short term gain. Reasons:
>
> 1. 60 min bar and daily chart appear oversold.
>
> 2. Advancers at the close actually were better than during the day.
>
> 3. Volume at the close to get to low levels were low.
>
> I am a buyer in Globex if a still decent price can be obtained.
>
> I also agree with Earl re. PEG. But I do not remember the last time I
> saw GE [a Dow component which constitutes 3% of the S&P] at a PEG of
> 1.2. That is close enough to parity for me. If I had the time I would
> look at the PEG of other Dow components that are in the S&P.
>
> John
>
>
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>
>
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>
>
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