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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 665.67

-0.9%

Nov 17 4:00 PM EST

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To: j g cordes who wrote (15890)	5/8/1998 8:14:00 AM
From: Clint E.	Read Replies (1) of 68086

Jim, Jobs data has not been released yet but let me just say this as to why I went long bank stocks and why I think jobs data will be interpreted market-friendly. One observation that I have made over the years of trading is that bank stocks are good representation of jobs data. In general, if bank stocks don't sell off ahead of unemployment data, I turn bullish and buy stocks ahead of Friday. Back in Sept. of 96, I went long stocks ahead of jobs data based on that indicator when market sold off sharply. I came on this thread and said something about how I am sure we will rally on Friday but didn't say why. That was our early days on this thread, before your time. There is one more observation that I don't want to share. It is has to do with tape reading. That said, keep an eye on SAVLY. It made a nice stop at my favorite 44 stop. Clint

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