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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 690.38

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Dec 24 4:00 PM EST

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To: Johnny Canuck who wrote (40061)	8/16/2003 7:31:49 AM
From: Lachesis Atropos	Read Replies (2) of 69216

Harry looking at the market in general (and thinking out loud) -- liquidity is declining but the average price of a stock is still rising. This would imply that the float has been bought up (reduced) and is holding. The un-weighted average price of a stock on the AMEX, NASDAQ, and NYSE is at the bottom of its trading range -- (compare this to the major indices). This would mean that low priced stocks are being bought. Investors are finding value in low prices stocks (not necessarily good quality stocks.) Has Wal-Mart mentality taken a grip on Wall Street? Just a thought. I don't think I am making any sense. Well the market at times doesn't make any sense either! Liquidity drying up is a good thing. Market is building up tension for a move. Lawrence

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