MDA - Market Direction Analysis Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.00

+1.0%

Nov 21 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: donald sew who wrote (24350)	9/1/1999 9:22:00 AM
From: Matthew L. Jones	Read Replies (1) of 99985

Donald, I'm not familiar with the candlesticks, so I will defer to your expertise, but there are a lot of other reasons not to go long this market just yet. One thing I learned the hard way is "when in doubt, get the heck out". I've not had anyone address the huge dow drop at the close. When the closing bell rang, the dow was at -68... in a matter of 3 minutes or so (when the large amount of Market on Close orders were posted), the dow had dropped to -85. I've been watching the market for years and I have never seen this big of a shift based on MOC orders alone. Bob Pisani was talking about large MOC orders (1M shares and larger). This indicates big money to me. When I used to day trade, one of the favorite plays was to step in front of size. I'll be very surprised if this "pop" holds past 10AM. Another peculiar thing I noticed was the fact that cyclicals were hot in premarket. That indicates a move to safety, IMO. That would mean out of the techs. We'll see soon enough. Good trading to you, Matt

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next