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September 2001
September 5, 2001
September 5, 2001 Joe warns,
"If this signal manifests, it is very disturbing to the US as well as world economies."
It's a Look-Alike:
It's a Look-Alike, because it does not meet the requirements precisely as
described in Chapter 6 of Trading with DiNapoli Levels
The following foreboding chart shows a quarterly
Double RePo Look-Alike
Click chart below for enlargement.
Joe warns, "If this signal manifests, it is very disturbing to the US as well as world economies."
We would expect 7600DOW and the 1000 area in the NASDAQ.
In any case, this is a real possibility:
Experience tells me that monthly and quarterly Double RePos are more ragged than daily or weekly signals, which means Look-Alikes are to be taken more seriously.
The bottom line:
Get very defensive, or batten down the hatches for some serious deterioration of equity retirement plans, etc... Do not get scared out at the support levels, sighted above, if in fact we get there.
It should go without saying that qualified traders have huge opportunities in short selling these markets.
TRADER JO
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