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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 672.07

-1.7%

Nov 13 4:00 PM EST

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To: HairBall who wrote (31572)	10/27/1999 10:42:00 AM
From: j.o.	Read Replies (1) of 99985

Hi LG - regarding my comment on the short-term timing in these markets, I just meant that if one is looking at 5-minute charts and similar, there was some crazy price action yesterday afternoon - at least in the futures. Those jumps looked to me like specialists trying to churn and burn people trading on v. s/t technical levels. And by the number of times that they ramped the S&P up and down 5-6 points, it was working for them. Not saying that TA was not working - just the very short-term stuff was getting quite muddled. Are you short here? I had an overnight short, but just closed it on the lack of followthrough. I need to get my head around this market this morning! j.o. indextrade.com

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