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Strategies & Market Trends : Z Best Place to Talk Stocks

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To: aniela who wrote (49330)	10/3/2003 2:11:56 PM
From: Ron McKinnon	Read Replies (3) of 53068

14:05 ET Floor Talk As we scan trading desks for thoughts on today's action, we're not finding that traders have much to say. This does not come as a surprise on a day that the market gaps up and stays there. This scenario creates little volatility, as negative calls are nullified and potential sellers are swayed into staying long for at least one more day. From a trader's perspective, the action today is in finding stocks that have recently experienced enough technical weakness to draw new shorts into the name. On days when everything is up, these are the types of stocks able to make new session highs on an hourly basis amid short-covering. The bond market is where the real action is today. The 10-yr has been rocked by the economic data, currently trading down a jolting 1 21/32 with a yield of 4.199%. Ouch! The gold sector is also taking a beating with the XAU losing 5%

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