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Strategies & Market Trends : Steve's Channelling Thread

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To: Zeev Hed who wrote (14057)	4/4/2001 5:25:42 PM
From: Jdaasoc	Read Replies (1) of 30051

Zeev: Futures up after market. They seem to peak premarket and sell off during the session. Mutual fund redemptions must be getting brutal on large caps. Resistance points are meaningless. It all a matter when buyers return. INTC & CSCO doing OK after market but I wouldn't hold out much hope in short term. I have been thinking that the only people with capital gains problems to deal recently are the shorts. I can only imagine that in order to lock in their profits they will have to buy the market. It is only a question will there be enough buyers to compete with to give rise to the magnitude of your rally. If they have been covering, you would never know it. PS futures up enough to almost wipe out losses during day. john

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