The Naked Truth - Big Kahuna a Myth 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.

Pastimes : The Naked Truth - Big Kahuna a Myth

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: bill meehan who wrote (64923)	9/29/1999 8:40:00 AM
From: accountclosed	Read Replies (1) of 86076

Before the rapid retracement in late trading, the Dow and S&P 500 index were both more than 10 percent below their all-time high close marks, in territory considered a technical correction. Bill Meehan, chief market analyst at Cantor Fitzgerald, Darien, Conn. said there were several factors pushing the market down Tuesday afternoon, including the spike in gold prices and bearish remarks from an influential technical analyst at Prudential. And the reason for the late comeback? ''Take your pick,'' Meehan said, citing everything from automatic program trading to the oversold condition of the market. Since the steep sell-off last week that broke through the bottom of the summer-long trading range, analysts have been saying the market has been searching for a new bottom. Meehan said it is ''absolutely not'' there yet. ''There was no mass capitulation,'' he said. Analyst said the market continues to worry about next Tuesday's meeting of the Federal Reserve policy-setting committee, which will decide if interest rates should be raised to slow the economy dailynews.yahoo.com bravo, bill

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next