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Strategies & Market Trends : LastShadow's Position Trading

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To: Jeffrey Lee who wrote (19260)	8/10/1999 4:06:00 PM
From: LastShadow	Read Replies (2) of 43080

I have not been able to get on SI most of the day! Sorry. 15:25 ET Dow -55, Nasdaq -31.23, S&P -15.80: So far, the rebound is holding as the Dow and the broader indices are able to continue to cut their losses... While rebound is welcomed, this by no means suggests that all is well with the market... To be sure, the market will be tested again and more selling could be expected in the last half an hour as already some key issues have started to give ground... DJTA -87.82, DJUA -0.99... Russell -5.94. 15:00 ET Dow -57, Nasdaq -34.45, S&P -15.84:The market is mounting a major rebound late in the session as investors take comfort from the remarks issued by Fed Governor Gramlich... He said that all the fretting and stewing over the low unemployment rate is not warranted, as he does not believe it is a good measure of inflationary pressures... Accordingly, Net issues have made a distinct turnaround with Yahoo! and Amazon.com now very much on the upside... It will be interesting to see if this latest rebound can hold in the last hour of trading... DJTA -91.18... DJUA -0.87... Russell -6.82.

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