David;
I can't blame you. It's a tough market to call for any trader and SEG is even more difficult because it's stock price is so shaky. The only thing I can contribute is that when the heavy selling took place on the 14th., 15th, 16th the specialist appeared to absorb it. I didn't see any significant change in short interest. If I am right he will take the price up higher, in order, to unload at a profit. This time, on the long side. About the market. I never believed this market was turning bear although, it looked as tough, it was. That's what all the talk about the media was all about. This is a specialist/insider correction/crash, albeit, a serious one. They needed to take the market down, in order, to reaccumulate stock for next year. They needed some excuse and the media was ready to accommodate their needs. Now CNBC is saying things really aren't so bad, after all. Do you ever feel like your being rolled over and flattened out by a steam roller? Thankyou, for your support.
P.S. They could do it one more time before the year is out.
PHOTOMAN/William Epstein |
