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Pastimes : Ask Mohan about the Market
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To: MythMan who wrote (201)1/2/1997 7:26:00 PM
From: Imuah   of 18056
 
Pete, it was computer buying related to the SP-500 futures contract price vs. the cash index price. Sell the futures, buy the stock. Futures contract was way up relative to stocks which comprise it. It was all happening in the futures pit. The stock buying was mostly mindless computer generated stuff. New jobless claims were out today. They were up some, which would tend to be positive for bonds, but not enough to overcome the purchasing managers numbers. What employment numbers are due out tomorrow?? Jack
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