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Strategies & Market Trends : Take the Money and Run -- Ignore unavailable to you. Want to Upgrade?

To: Alan Smithee who wrote (13914)	8/7/2002 4:47:19 PM
From: SusieQ1065	Respond to of 17639

With economic news still negative, the PPI on Thursday and Productivity on Friday I find it hard to believe the markets can mount a credible rally. However the odds of a rate cut next Tuesday are climbing and investors are trained to think rate cuts = rally. If the markets can break over Dow 8450, Nasdaq 1300 and SPX 877 then we could retest the highs from last week. Volatility is still high but the VIX has fallen substantially to 43.07. Program trades were the main reason for the afternoon bounce. There was a huge futures buy program timed to influence the 3:PM turn at 2:41. Big money is trying to support the markets at this level, which leads you to believe there is support to go higher. Do you always believe everything you see? I don't and we will keep a skeptical eye open going forward. See you in the morning! The game plan will be posted later tonight. ~MarketMonitor