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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 690.40-0.5%4:00 PM EST

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To: d. alexander who wrote (24492)12/3/1999 3:30:00 PM
From: Johnny Canuck  Read Replies (1) of 69749
 
Dorothy,

I have been on a sell signal since 12:00PM EST. I expect
that we will finish well north of the middle of the gap
at 1327 though.

It looks like we are got a nice, orderly rotation in the
stocks this morning. Most of the money continues to go with
the leaders LU, NT, CSCO. It looks like stocks with near
term visibility problems in earnings are not really bouncing such as DITC and RFMD. I expect most traders will not want to take positions home with them. The lack of news
on Monday should give a direction-less range trading market.

I tend to agree with the below comment on bonds.

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Betting on QQQ options for a near term correction:

optionsource.com

To: ~IQBAL LATIF </wsapi/investor/personalprofile-3771207> (~29913 </wsapi/investor/reply-12176344> ) From: ~IQBAL LATIF </wsapi/investor/personalprofile-3771207> Friday, Dec 3 1999 8:59AM ET Reply # of 29919
Keep an eye on the bond, I would assume with market strong bond yields will move higher in anticipation of future problems as asset inflation concerns will reerupt, so the bond market may act as a real resistance for the market, only a break of yield below 6.25% will give us an indication that bond market is comfortable otherwise we may fall from new high very fast if bond market continues its diversion also look at BKX closely..ORCL IBM HWP may be the stocks to play on the side of momentum..trading entries with nimble approach.
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