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

To: Stephen who wrote (63115)	11/25/2000 11:12:16 PM
From: eddieww	Respond to of 99985

I think the bigs have been in distribution mode since March. It has been mostly orderly, but they have been clumsy a few times - 4-4-00 being an example. Buy 1, sell 3, buy 1, sell 3. They must be nearly finished by now, and have learned to protect themselves from accident with a record net-short spoo position. Friday, with nobody home, was a good opportunity to cheaply lift the Naz and entice the last, die-hard bull to bid up the markets on Monday. If 80% of j6p sold into this weak rally, it shouldn't work. It may not matter anyway if they have moved enough inventory to just let the whole thing fall and take j6p's call money.