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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?


To: Justa Werkenstiff who wrote (28614)9/24/2001 2:58:48 PM
From: Steve Lee  Read Replies (2) | Respond to of 30051
 
As in previous post, I believe the trend, the economic outlook, and valuations will all force the NDX down. When I saw the pre market pop, I thought it was a gift. I am watching the charts of the major components and here is what I saw:

1) Pre market gains on low vol
2) Heavy vol in first hour taking stocks down
3) Stocks then rose for remainder of day on lower vol

Looks like a trap to me.