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

To: LTK007 who wrote (45308)	7/30/2001 5:49:45 PM
From: ajtj99	Read Replies (2) \| Respond to of 56535

Max, there is no worry in the market right now, and traders are buying on technical weakness. I read an article posted on SI (maybe by Les) that basically said institutions are sitting out until there is a clear direction in the market. That goes for funds as well. The opinion was that the drop in volume corresponds to those groups sitting on their hands, and the majority of the swings have been hedge funds and momentum traders moving in and out. Most of the individual sentiment is bullish, and most of the professional sentimenet is bearish. There is just not enough enthusiasm to push the market forcefully in one direction without a push back from the other. This may change in a couple of weeks, and maybe it will take the Fed saying "We're done" on August 21 before the market takes a hint.