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Strategies & Market Trends : Sharck Soup
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To: Sharck who started this subject8/31/2001 3:45:44 PM
From: besttrader   of 37746
 
I wonder if this will come true -->
(From a newsletter I get)
This is one of the worst month end rallies we can remember. When you add to this the fact that the market has been clobbered during the past several sessions it seems even worse. Bulls just cannot get going and to our surprise, the level of short covering has been muted at best. Anyway you look at it, this tape suggests that next week is gong to be a repeat of this week. The market is going to test the April lows and we are not even certain those levels will hold. There could be some short covering into the close but we would use any strength to reduce long side exposure. There is resistance at NASDAQ 1,833.
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