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Strategies & Market Trends : Shorting SPY for fun and profit. -- Ignore unavailable to you. Want to Upgrade?

To: ed doell who wrote (299)	10/17/1999 5:04:00 PM
From: fut_trade	Read Replies (2) \| Respond to of 346

I think I misinterpretted the new lows data. The 500 new lows seemed to indicate to me that something critical is happening. But after thinking about it, the new lows are 52-week lows. Many companies set lows about 53 weeks ago. All those lows set around Oct. 8, 1998 no longer effect the new lows count. So the sudden increase to 500 new lows isn't really as significant as I originally thought. After the sudden drop in the NYSE composite, support is near and I really don't see too much more downside right now.