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

To: Crimson Ghost who wrote (49701)	5/7/2000 7:18:00 PM
From: Michael Watkins	Respond to of 99985

In keeping with the article you posted, I have a comment regarding the Nasdaq futures action on Friday. Two things were unusual about Friday. 1. On the ND There were more contracts traded pre the stock market opening than is normaly the case. Far more. like more tha double the average trading volume (while the stock market is open) on a 5 min bar basis. Very very unusual. And price was headed down on the eco news. To me it looked like someone big was positioning for more downside. 2. What's so special 10:10am ET Friday? In less than 1 minute the NQ surged over 100 points. It does not normally do that. It surged on less volume than the pre-stock market opening. Note ND is the big contract, the NQ is the emini. I have no explanation for it, but I find it very difficult to believe that the NQ should surge 90 points on a mere 50 ticks. Low volume shenanigans. Buyer beware! PS, over the past 30 minutes since the futures contracts starting trading after the weekend, price has moved down 60 points. Another 15 or so and the entire rise on Friday will be invalidated. Very interesting times ahead I think.