Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The New Bull Market. -- Ignore unavailable to you. Want to Upgrade?

To: Chip McVickar who wrote (868)	6/27/2002 12:18:08 PM
From: bearshark	Read Replies (1) \| Respond to of 1750

Chip: Back in the 1980s, I watched the old Financial News Network's tape religiously. I love the tape. At that time, trading was dominated by programs and large money. Many individuals were still licking their wounds from the 1970s and wanted no part of the market. The action in the 1980s was like watching someone holding a full glass of water, and then on a given moment, turning the glass upside down. I told people this type of action would produce a one-day event to rival the 1929 one-day crash. It did. In the 1990s, more individuals began to play the market and acted as a buffer to these programs and institutions. Things were crazy but there was a different look to the tape. Unfortunately, what I am seeing now reminds me of the 1980s tape and not the 1990s tape. The buffer mechanism, I think, has moved to the sidelines. So, now we have programs and institutions again dominating these intraday moves and running wild. Because of that and the failure of the market to hold the upside move of Monday and then Tuesday morning, I set aside the data that I have successfully used over the last several years. It still says we are way oversold but it too is acting differently. When this tape reader sees things that do not appear right, this tape reader steps back until the fog clears.