Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: William H Huebl who wrote (66426)	10/3/2003 7:59:45 PM
From: James F. Hopkins	Read Replies (1) of 94695

Bill; As impressive as the prices moved up from yesterdays close, there is a fly in the soup. The NDX only had a 12pt move up during trading, the other 26pts was on very thin premarket volume..driven by futures..so that some one could sell into the resulting short cover panic..as soon as most of the shorts hit the stops and or closed the market had a rough time.. Volume was indeed above average, but not enough to account for the amount of the move up.. Looking back I see more volume on the down days. --- This was a rope the dope rally..& smart money sold into it. I covered on the 10:30 dip this morning but was right back short and jacked up the amount by 1:pm.. --- They are not showing it on the tape..but the DJI actully closed lower than she opened..it was pure futures that hit the shorts..& there were very few real buyers. The dow really gapped up at the open to 9600..that's were most of shorts the had stops..hell she closed at 9572. or 28pts below where she opened.. --- Fun and Games.. Jim ---

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