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Strategies & Market Trends : Take the Money and Run

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To: Jorj X Mckie who wrote (14043)	8/8/2002 10:44:05 AM
From: SusieQ1065	Read Replies (1) of 17639

Jim Brown 8/8/02, 10:35:41 Swing Trade Signals The OEX/SPX came to a dead stop at their opening levels. It appears there is some support here as could be seen at the close yesterday. We could not make upward progress but the OEX 441 level was holding. Should this level break we could see an acceleration to the down side. The keyword is "could". If you remember trading yesterday the downside drop was very slow and boring as there was a weak underlying bid all day. Once the sellers exhausted themselves and the buy programs kicked in the gains were sharp. We don't know if the new economic data has cancelled those bids today or if the two positive days in a row have exhausted the buyers. The futures appear to have found bids at SP 875, NDX 902.

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