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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: James Clarke who wrote (7631)	6/30/1999 5:33:00 PM
From: Zach E.	Read Replies (1) \| Respond to of 78765

I know that there was supposed to be a rebalancing of the Russell 2000, with small-cap index funds "forced" to buy a bunch of new names, but I don't know if this applies to the stocks that went way up today. Zach

To: James Clarke who wrote (7631)	6/30/1999 5:40:00 PM
From: Michael Burry	Read Replies (1) \| Respond to of 78765

Both Journal Register and USEC had single trades in the last few minutes that were bigger than an average day's worth of volume. James Cramer is highlighting the phenomenon, and even he admits he doesn't know (not so amazing that he doesn't know, but that he admits it), and points to some like Dayton Hudson that actually cratered in those last few minutes. I note several of my techs faltered as well. The R2000 rebalancing makes sense for today, but doesn't explain why everything was concentrated in the last minutes. SO you're drought just ended, eh? Just try and catch me! ;-)

To: James Clarke who wrote (7631)	6/30/1999 7:27:00 PM
From: Daniel Chisholm	Respond to of 78765

Gosh, on the one hand seeing my USU go up doesn't exactly hurt my feelings, but all these last minute surges on 30 June almost fails the smell test. Is it just me, or would others sleep better seeing their value stocks sneak up 1/8 at a time? - Daniel

To: James Clarke who wrote (7631)	7/1/1999 12:28:00 PM
From: Michael Burry	Read Replies (2) \| Respond to of 78765

I'm not trying to rub salt in any wounds, Jim, but your USU and JRC just did a very unfair number on you. Yeah, it's just a few points. But to trade up basically after the close on high volume and fall right back on volume below the daily average is criminal. This the NYSE for chrisakes, and SOMEBODY was on the other side of those trades making a killing. CXP, which I'm trying to buy low, did the opposite, crashing 3 1/2 points at the end yesterday, then jumping 2 points today - I couldn't get in. All these crazy moves have been written off as Russell adjustments by the press, but it's still criminal IMO. Mike