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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (19001)	6/30/1999 8:44:00 PM
From: Gary Wisdom	Respond to of 99985

Haim, I'm not disagreeing with you. However, as you know, the market travels in both directions in excess. There is a lot of cash in mutual funds right now and the money managers are scared to death that once again they'll underperform the averages. IMHO, every single one of them should be replaced with Spiders or Diamonds. But, as long as they have cash, they'll be buying. They have to. Their charters demand it. You should have seen the frantic buying in Merck after the close. Two blocks for a total of 1MM shares 1/2 point above the close. The NYSE did 900MM shares today. And then did another 200MM in the 15 minutes after the close. Serious butt covering going on.