Are We Gonna Have a Reunion? Message Board

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Pastimes : Are We Gonna Have a Reunion?

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To: TradeOfTheDay who wrote (525)	11/3/1998 3:49:00 AM
From: Doug R	Read Replies (1) of 568

Bev, I haven't yet had time to do a full analysis of the situation as I am still scratching my head over what in the world could be moving the market beyond the high of 10/16 so strongly. There's a lot of magnet stuff on the Dow up in the 8800 to 9000 area but I didn't at all expect to get there so quickly. As I was telling Tom D last night in SA, there's something going on out there beyond the fed cut that nobody has been able to put their finger on yet. I haven't found it either. The durn market should have stopped and pulled back to a 1/4 zone before proceeding past 8400 but it didn't. I can say that the pullback will now look for initial support around 8400 and if that holds, the candlestick stuff says it will move back up again closer to 9000. If that turns out to be the case, I'll trim my S&P long position back some but I wouldn't go so far as to get as aggressive as you are here (at least not until I get a better read on all of this). Hopefully I'll be able to get deeper into the technical profile of the indexes by noon tomorrow. That's pretty high up there on my list. Doug R PS; You might want to surf around for some Spanish ADRs. If I remember correctly you'll find some on ADR.com.

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