Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: set who wrote (19673)	6/3/1998 2:43:00 AM
From: Follies	Read Replies (2) of 94695

The most interesting thing today was how quickly the market fell at around 3:10pm EST today. The SPX dropped 5.50 points in less than five minutes. It was one of the fastest drops I have seen. It was lead by the futures and the futures sold off in probably 2 minutes and the index (based on the stocks sold by programs/arbitrageurs) followed. It was happenning so fast I thought my computer was broken and going haywire. Analysis: Sharp very quick moves indicate that no one was willing to step in, kinda like the bulls in Pamplona, everyone trampling over one another to not get gored. I think this indicates serious weakness and we have much further to go on the downside. Just MHO

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