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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: Ally who wrote (34881)	10/27/2000 10:23:18 AM
From: James Strauss	Respond to of 50167

The plummel on Nortel in after hours, and today's sudden up burst just confirms to me thatthe hedge fund guys are jerking stocks around. They are the supply/demand forces in today's ECN world. Between hedge funds and day traders, stocks can reverse 180 degrees at any time. So much for charting and their interpretations! Ally: In any given day anything can happen... Especially when helped along by Hedge Funds... But, once a trend is in place, it usually continues in that direction until it hits the ceiling or the floor... The recent downward trend in the NDX hit the floor 4 times and bounced this month near the 3000 level... That has convinced investors that it's safe to buy in that area... The lower GDP numbers remove the threat of further FED rate increases while opening the door to a possible rate cut... This creates a positive environment for equities... We may see a possible dip to the 3165 area today to fill the opening gap... Then, I believe, it's off to the races... bigcharts.com Jim