Stock Attack II - A Complete Analysis Message Board

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Strategies & Market Trends : Stock Attack II - A Complete Analysis

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To: Paul Shread who wrote (40400)	10/15/2002 2:55:13 PM
From: Kip518	Read Replies (1) of 52237

thestreet.com Scott Reamer Checking in 10/15/02 02:05 PM ET The 2 year treasury yield is above 2%, up 37 bps in three sessions. Wow. Incredible. As if the economy just took a major change for the better. And checking around trading desks the color looks like this for stocks: in the retail names, we're not seeing major buying by institutions. Hedge funds buying for a trade or short covering dominate. Both KSS and WMT are now trading above the levels they were at before they announced weak sales numbers. Defensive stocks, like restaurants and foods, are for sale here. In tech, most of the buying is program driven and not specific to sector or stock. Same thing here: the quality of the buyers (refelcted in their appetite price sensitivity) is getting low. These are some of the things that we look at to understand if rallies are long in the tooth: who the buyers are, what they are buying, and with what type of confidence (price/volume). FYI

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