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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: dennis michael patterson who wrote (20858)5/5/1999 12:50:00 PM
From: Robert Graham  Read Replies (1) of 42787
 
I have been seeing the selling lead by the companies that at a former time were standouts in the market. They are still well-established companies, but have not demonstrated the performance we have been seeing in the market. I think this is where the more conservative monies would of been placed in this market. Is this a belated shift to what will end up in some of the more performing issues? Or a shift of money out of the market? We shall see by the end of this week. But I am not liking the broad sell off that is extended. A good break below 65.92 of the TYX.X will give us a clue.

It looks to me like during the second stage of the recent bull run there was money moving back into the market to help the DJIA achieve momentum status. But toward the later part of this run, I was starting to see some evidence of money moving back out of the market. Overall, I do think much money has remained on the sidelines, and this during a rally that was achieving good momentum and broadening breadth. If the next leg of the rally resumes, the money on the sidelines will need to commit. I do not believe as some do that the money in the Internets alone can fuel a continuation of this DJIA led rally. Both in quantity and type of money concerned.

Comments welcome!

Bob Graham
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