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Strategies & Market Trends : Take the Money and Run

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To: Jorj X Mckie who wrote (16083)	8/25/2002 3:51:03 PM
From: SusieQ1065	Read Replies (1) of 17639

k...i will e~mail him.... but i have been reading him for awhile and i'm fairly certain that he is using this information to bolster his Bearish Outlook... here's a bit more: Whether it is fear of the August dip, the post Labor Day drop or the anniversary of the attack, volume buyers have pulled their bids. Retail buyers who are not aware of historical trends provided a slight cushion late in the afternoon on Friday but volume was only 1.4 billion on the Nasdaq and 1.3 billion on the NYSE. The more amazing numbers which really tell the tale were the ratios. Down volume on the NYSE was 1.09 billion compared to up volume of only 195 million. Better than 4:1 in favor of the decliners. The Nasdaq was the same. Commentators chalked it up to profit taking, which it was, but even more so it was getting out of the way. With no orders to act as a brake any serious volume, like we could see from hedge funds next week, the market makers will stand aside and let them drop until buyers appear. I think the wild card here is the 9/11 fear. Institutional traders who would normally have buy orders placed at ridiculous fire sale prices don't know what might happen with the convergence of the August dip, September slide, 9/11 anniversary, weakening economy and earnings warnings. Are we going to Dow 8500 or 7500? Is IBM going to be $75 or $55 by October. How bad is Intel going to lower guidance on the 5th? The problem is a huge number of unknown factors all coming to pass over the next three weeks. Did I mention a 20% gain from the July lows that needs to be taken off the table?

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