Pinnacle Resources LP Reports its Technical & Quantitative Model Results for the DIA, SPY, QQQ

Chicago, IL (PRWEB) October 21, 2003 -- Pinnacle Resources LP reports its technical & quantitative model results for the DJIA (AMEX: DIA), S & P 500 (AMEX: SPY), NASDAQ-100 (AMEX: QQQ).

Pinnacle Resources LP reports its technical & quantitative model results for the following markets and exchange-traded funds:

DJIA (AMEX: DIA): trading at 111.00% of 200-Day Moving Average

S & P 500 (AMEX: SPY): trading at 110.00% of 200-Day Moving Average

NASDAQ 100 (AMEX: QQQ): trading at 119.00% of 200-Day Moving Average

The historically volatile month of October has proven to be positive so far for those investors long the US equity markets. While the equity indexes have shown the following month-to-date returns:

DJIA: 2.30%
S & P 500: 4.30%
NASDAQ 100: 7.20%

the overall market volatility is approximately 5.48% for the month of October. This reading is an increase from the volatility of the normally quiet month of August, which posted a reading of 5.31%, and the volatility reading of 4.50% for the month of September.

The steady actual volatility and positive return performance during the month of October may explain why the Chicago Board Options Exchange (CBOE) Volatility Indexes (VIX) have registered 4 1/2 year low readings during the month of October. According to the CBOE, the old Volatility Index (VXO) stands at 19.19, while the newly re-formulated VIX Index stands at 17.62. Given the large number of earnings reports scheduled for release this week by equity index component companies, the actual and/or implied volatility may increase sharply this week.

Based on recent market price patterns, the firms proprietary quantitative and technical intermediate term trading model continues to generate a long position for the US equity indexes, while the short-term model has moved to a neutral-long position based last weeks closing price level.

The firms proprietary quantitative trading model generates positions when it detects a positive or negative trend in the historical price data series. For more detailed information, visit the market indices and models sections of the firms website located at www.pinnacle-resources.net.

ABOUT PINNACLE RESOURCES LP

Pinnacle Resources LP is an independent equity and derivative securities research and trading firm that distributes daily and weekly market research reports. The strategy and methodology behind these reports reflects a consistent, concise, and disciplined approach to investment and trading analysis.

Investors should be advised that no responsibility is assumed for the use of this material and no express or implied warranties or guarantees are made. The firm does not receive compensation from individuals or firms other than those that subscribe to its services. Facts, opinions and advice are current and are subject to change without notice. Nothing contained herein shall be construed as an offer to buy/sell any commodity, security, option or futures contract. The officers, employees, or managed accounts of Pinnacle Resources LP may have positions in the contracts or securities mentioned herein.

Pinnacle Resources LP
Chicago, IL
www.pinnacle-resources.net