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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject	9/25/2001 10:10:32 AM
From: StormRider	of 37746

10:07 ET Market Comment : Perhaps another indication of how much bad news was already in the market -- we are seeing a rally following the worse than expected confidence data, as investors apparently were expecting even worse from this report than economists: Dow +59, Nasdaq +23. 10:04 ET Economic Data : Conference Board notes that responses before and after Sep 11 only differed slightly, indicating that much of the deterioration in consumer confidence was underway prior to Sep 11, which is consistent with the last Michigan consumer survey. 10:02 ET Economic Data : Consumer Confidence plunged to 97.6 in September from 114.0 in August; the consensus was 105.0. This report mixed pre and post-Sep 11 responses from consumers, and was significantly weaker than expected. In a separate report, existing home sales rose 5.8% to a 5.50 mln unit rate, stronger than the 5.20 mln consensus. Not seeing much impact from these numbers, as a dismal confidence report was widely expected. 10:01 ET Nasdaq Composite : -- Technical -- Pushes to a new recovery high but has failed to take out a minor resistance in the 1510/1515 area. Intraday watching supports at 1500 and 1490 for indication of the health of the current leg of this advance.

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