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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (28341)	2/22/2003 11:34:21 AM
From: Libbyt	Read Replies (1) \| Respond to of 57110

Market trend... IMO the market has been trading on "emotions" lately....and it seems like many market "sell off" or "rally periods" are being driven by hourly news releases or rumors. With the news of an oil fire on a barge in Staten Island, the market started to dramatically sell off with fears of terrorism. As soon as it was realized that it was an accident, and not a terrorist event, the market started a "relief rally". IMO probably some traders sold long positions, and added short positions as soon as they feared a possible terrorist event. When those fears proved unfounded, then a short covering rally seemed to begin. So...maybe the market direction right now will be moved more by news events, and the "mood" of the country than it has in the past? It seems like we are approaching a very uncertain week with the prospect of war seeming more likely. IMO that feeling of uncertainty will not be positive for the market to continue to rally at this time.