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Strategies & Market Trends : Tech Stock Options
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To: HairBall who wrote (53413)9/21/1998 11:09:00 AM
From: donald sew  Read Replies (1) of 58727
 
LG,

A little awhile ago the DOW retraced more that 50%(100 DOW PTs) of its earlier loss to get to the negative 85 area. I quickly checked the RUT, and it only regained 22% of its moring loss when the DOW regained more than 50%. That intraday rally was not BROAD-BASED.

Also the TICK moved from -1366 to +287, which accounts to a swing in the TICK of 1650 points and the DOW was only able to get to DOWN-85. Thats a huge swing in the tick, which took place in 30 minutes. It does indicate that some of the big boys are buying, but are the smaller players buying.

The TICK is about flat right now down only 90 and the DOW is still down 105 points.

I guess what I am saying is that the nice rebound off the lows this morning, should not be immediately taken as a great positive.

Seeya

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