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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 690.27

0.0%

Dec 26 4:00 PM EST

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To: mattie who wrote (18648)	12/3/1998 4:03:00 PM
From: Clint E.	Read Replies (2) of 69276

What happened? I came back ten mins ago. Too much over-valuation? Looking at intraday charts of the NAZ and DOW shows that once the market didn't recover by 3PM, everybody started dumping. I dumped mer, jpm and unph. Wish hadn't gone away and was here when it happened so I could have shorted something. Market is going in the right direction. The DOW is oversold but the NAZ is not. People have been too bullish and fully invested. It is good to take a break, especailly in many over-valued NAZ stocks. Clint

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