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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: AllansAlias who wrote (93276)	4/12/2001 8:27:16 AM
From: JRI	Read Replies (1) of 436258

Alan....I just find it funny how those futures inch up....... Do you remember 7 weeks ago...before the start of that harsh down channel? Everyday for, I believe, 6 trading days in a row, the futures were up in the morning (COMPX).....after a bunch of thrashing about during the day, we would normally finish UP, but at lower level than the open....there was massive distribution going on... Soon, thereafter, the market collapsed, and we started that harsh down channel... Well, there's nothing worse for a trader than picking the false analogy, but I just find it funny how many gaps up that seem to be happening during the last few days.....and then the progress intra-day is sometimes spotty. I think Les posted something like 80% of the NDX's gain the last few days has been gap-related? Many individual highflyers gap huge at open, and spike on short-covering, and then trade sideways most the day... Hopefully I am not applying the wrong analogy here....but it just smells a little funny that the market can't rally intra-day more...

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