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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Chris who wrote (24792)	6/30/2000 12:25:13 PM
From: OX	Respond to of 42787

the rally, if any, won't come til next Wed. an overall Up "meandering" move could occur in place of a "rally", the net result being higher prices on Wed high (vs. yest lows)... as measured by SPX. (note, on Monday, equity and related trading closes early at 1pm ET)

To: Chris who wrote (24792)	6/30/2000 1:39:38 PM
From: Robert Graham	Read Replies (1) \| Respond to of 42787

Good move up on the SPOO considering what has preceded this move up. Only now has price put in an extended pullback that is now continuing. COMPX +55 and NDX +61. I do agree that it may be wise to suspect this rally attempt, for there is not a showing of any kind from any of the stocks that I monitor too. Most are just at their water mark. DOT surged earlier today to now end up at breakeven. The Semis still putting in a strong showing. This may seem cynical of me, but doesn't this seem like the old game of pushing the indices higher on the backs of select stocks to cover underlying distribution? The SPOO put in a marginal bottom that was followed by a good move up indicating it may be servicable. But I am still skeptical in this particular situation. We also have the TRIN moving up once again after an anticipated pullback and now is back above 1.0. Apparently this helps validate underlying selling. SPOO price now closing in on its 50% retracement mark of the move up it has made today and testing the 20 EMA 7. Here I think we shall see what is actually behind this intraday rally. I still see us being in a large trading range between 1451.00 and 1473.75. Despite the concerns, I will follow whatever price tells me. Bob Graham PS: Every time I try to post, I get an error mesage. If this attempt at a post makes it on SI, I will be surprised. PPS: I will be going to that TAOTN meeting in LA in a couple weeks. Should be interesting!