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To: Joseph Silent who wrote (3352)8/10/1999 11:28:00 AM
From: oilbabe  Read Replies (1) | Respond to of 10027
 
Joesph: A lot will depend on the bond market today
...5 year sale this afternoon I believe. Bonds
have turned positive this am, but after 2:00,
things could get decidedly ugly, or could even
turn positive. S&P seems to be stabilizing
here, but pretty close to the support line here.



To: Joseph Silent who wrote (3352)8/10/1999 11:29:00 AM
From: Sir Francis Drake  Read Replies (1) | Respond to of 10027
 
Well, the issue for the broader market, is the 200 DMA on the S&P 500, and institutional money watches this; when program trading takes over, retail investors will get swamped.

As to capitulation - the trading is intense on both sides, i.e. I see some buyers stepping up to the plate, and that I believe accounts for the volume, as shorts are still active.

Morgan