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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: LTK007 who wrote (45214)	7/26/2001 8:21:38 PM
From: Canuck Dave	Read Replies (2) \| Respond to of 56535

Amazing, isn't it? Still, futures don't mean much this time of day. We'll see what happens after the open. Is the US economy so strong it can absorb all those layoffs? Apparently so. J6P is still in the game and optimistic about the future. Looking at the 7 year chart of the Dow, it is kind of amazing. Indices go up, indices go down, but I don't ever think I've seen one flatline for 2 1/2 years. Manipulation? Nah..... CD

To: LTK007 who wrote (45214)	7/26/2001 11:26:04 PM
From: ajtj99	Read Replies (2) \| Respond to of 56535

Max, that 41.10 is a little suspect on the QQQ's. The last trade was at 4:15PM, and it may have been an adjustment fill between houses or something. If you look at the chart, it doesn't seem to indicate it closed that low: finance.yahoo.com It appears the 4:00PM close was around 41.60 or a bit more by looking at the chart. If I was curious enough, I'd check historical prints around that time, but it all changes in a few hours anyway. I think you'll do good with equities if you buy bottom. If we get a second dip in October you're down at most 15%, and that would be wiped out in a couple of days on a bounce. Your bonds did great. Last year our bonds we were in for our employee profit sharing returned 10%. I stayed away this year, since they seemed to peak in our funds in November. You can't go wrong if you're buying 12-15% above the October '98 low around 1400, IMO. I agree it appears there was some short covering before the GDP numbers, and some momo players may have stepped in also. I didn't see this short covering coming, or I'd have closed puts today to re-position. No big deal. We're going down tomorrow after it's all played out, IMO.