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Pastimes : All Clowns Must Be Destroyed -- Ignore unavailable to you. Want to Upgrade?

To: Joan Osland Graffius who wrote (17357)	3/14/2000 8:44:00 PM
From: pater tenebrarum	Respond to of 42523

Joan, like i said, i'm observing several divergences in oscillators and internals that suggest this was the case, like the 10-day TRIN, the a/d volume, new highs/new lows. however, this buying will create a lot of selling pressure if it turns out to be mistimed. imo the NYSE members are sitting on a lot of inventory due to the declines in NYA and DOW, so they won't be stabilizing any further declines. they probably hoped to unload into an intermediate term rally that has so far failed to materialize. of course i'm speculating here a bit, but i have a gut feeling that many market participants, even the seasoned kind, are underestimating the current situation. i may be wrong, especially if the BLS delivers on the inflation stats as usual. see the following NY post article as to what they are doing: nypostonline.com