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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 690.36

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Jan 14 4:00 PM EST

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To: space cadet who wrote (17529)	8/5/1998 4:19:00 PM
From: jjs_ynot	Read Replies (1) of 69780

>>> I think the big boys just used up a lot of their precious ammo on that rally and given that the funds are near an all time low on cash I don't think they can afford too many more of these "victories". I have been thinking the same thing. In the past, they would trot out Abbey Jo in mid afternoon and put a buy program on the futures (in this case buying seemed concentrated in the BIG name stocks) and the subsequent rise would become self-fulfilling as the public would become scared that they might miss the next runup. It didn't look like anyone else jumped on board to continue the trend and the market appeared to be laboring heavily toward the end. My 2 cents FWIW.

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