To: Rambi who wrote (13324 ) 3/26/2001 5:29:22 PM From: velociraptor_ Read Replies (5) | Respond to Not insane...I am thinking the same thing. This bounce has gone too far already and I can think of several reason why. End of quarter window dressing fonr one. Brokers like to boost things so they look better at the end of the quarter. Two, Japan's mark to market accounting takes place on Mar 31. As banks are major holders of stocks and bonds, it is not surprising to see some kind of push to better the books on this date. The Nikkei is obviously doing it so why not the US considering Japan is a major investor here. Three...brokers are in trouble and there is some intervention here in an attempt to stimulate the markets by making it appear that there is a bottom. Though we broke trend today, something smells. First, during the decline, the Naz held, and now when the DOW and S&P spike the Naz craps out. The indexes are not in unison here for a bottom. Volume has been declining since the spike at the bottom. In terms of follow through, there is none which leads me to believe that buyers are not out there. The volume spike and subsequent rise is due a lot to short covering, as the extra buyer volume just isn't there. Big cap leaders are not co-operating and the SOX which is a technical indicator itself broke today. The DOW failed to hold 10,000 on a test and also broke below the 9650 level with force putting it in bear market territory and I think that is scaring someone. The DOW is destined for lower numbers and this spike is going to be used to distribute and pull in more sheeple money.
