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Strategies & Market Trends : Moufassa's Lair -- Ignore unavailable to you. Want to Upgrade?

To: DlphcOracl who wrote (5111)2/19/2002 3:37:12 PM
From: DlphcOracl  Read Replies (1) | Respond to of 13660
 
Brokers Breaking Down

The Broker/Financials index (Amex $XBD) has blown through its 200-dma and is in free-fall. Trader on CNBC (Peter Henderson) made a good point -- he believes todays market decline is, in large part, due to extreme weakness in the financials. He cites: (1) selling of large block of Citicorp (C) by Warren Buffett, and (2) fears that Japanese banks are near collapse, with no measures announced by Koizumi during Bush's visit, as main factors traders are discussing.



To: DlphcOracl who wrote (5111)2/20/2002 7:34:08 AM
From: moufassa7  Read Replies (1) | Respond to of 13660
 
DO, I do not expect the lows this week. I think the market will get another bounce or two before the capitulation sell off. I covered my remaining shorts yesterday afternoon. I'm all cash in expectation of a mild bounce.


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