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Strategies & Market Trends : Win Lose or Draw : Be A Steve, Make A Call
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To: Softechie who wrote (2167)2/13/2003 8:48:36 PM
From: t2  Read Replies (2) of 11447
 
You expecting another down day?

Case for up day includes Dell, going buying ahead of a war, many days of selling.
Case for down day includes selling aheading of war,fear of terrorism going into weekend, more and more SI bears long which may or may not be contrarian.

To me the biggest case for a down day could the possibility that so many traders (especially the ones who are usually bearish) have covered or gone long during the past few days....and short term traders would probably want to go FLAT into the 3 day weekend, creating selling pressure tomorrow afternoon (mutual fund data below also supports this idea).

For now, I am sticking with a selloff scenario tomorrow as it seems there is much optimism for a bounce among most 'traders'..

AMGDATA out this evening.
Equity Funds report net cash outflows of $2.9 Billion for the week ended 2/12/03 - with all sectors reporting redemptions except Real Estate, which reports inflows for the 4th consecutive week.
International Equity Funds report outflows from all emerging and developed regions ($417 Million).
Taxable Bond Fund inflows total $2.3 Billion - with half going to Investment Grade Corporate Bond Funds and half to Government Funds investing in Mortgage-Backed securities.
International & Global Debt Funds report inflows for the 9th consecutive week.
Money Market Funds report inflows ($223 Million).
Municipal Bond Fund inflows total $324 Million.
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