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To: oilbabe who wrote (2259)7/12/1999 4:43:00 PM
From: Sir Francis Drake  Read Replies (2) | Respond to of 10027
 
Oilbabe - today, again there is very strong evidence that the selling trend is due to retail bailing, rather than institutional. Look at the fact that there was no "super sell messages" today on NITE *at all*, and in fact there was one "super buy message" around $57 - this extends Friday's trend, where the "super sell" has been very mild compared to previous trading sessions:

thomsoninvest.net

Also, from my own observation today, a lot of the selling was coming off ISLD, which often tends to show retail sells (on the other hand, I have seen several big block sells too).

So, we are in the curious situation where the movement of the price (down), is no longer consistent with all indicators. Perhaps this indicates we are approaching a bottom. We shall see.

Morgan