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Strategies & Market Trends : Waiting for the big Kahuna
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To: joe smith who wrote (19946)6/7/1998 10:44:00 AM
From: James F. Hopkins  Read Replies (1) of 94695
 
Joe; I'm very undecided about the coming week, Friday may not have
had a lot of volume , but the up volume was a lot more than down
volume and not a lot of selling into the rally. While some of
that was likely short covering and I expect a retrace, it looks
like we are short of people wanting to sell. For me a lot will
hinge on the 30yr bond yield, and how much retrace we get, and
if Monday winds up ending on an uptick, but not giving up over
half of her gains.
That's my best guess, if 30yr stays down, if retrace is not over
half , if she ends on an uptick , then I think we could have a
strong week. I'm not exactly cocked and loaded to shoot at any
thing, I'm playing just a few penny stocks in the gold sector.
And that sector has been kind of scraping the bottom and mostly dead
money lately.
Jim
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