MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 652.56

-1.5%

4:00 PM EST

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To: HairBall who wrote (21286)	7/28/1999 1:00:00 PM
From: pater tenebrarum	Read Replies (2) of 99985

LG, from what i could see so far today, the buying in the nutz was almost entirely driven by retail accounts. the institutions don't seem to be around to play. since most of them are at or near important supports, this one-step-forward-two-steps-back behavior makes me very uneasy. if they don't put together a string of consecutive advances i fear all hell might break loose in the sector. the one saving grace right now is the fact that sentiment on the group is very negative and short positions on some of the stocks have increased markedly. so maybe a short covering rally is coming soon - we'll see. regards, hb

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