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Strategies & Market Trends : Roger's 1997 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: Jim Rathmann who wrote (6352)10/31/1997 2:21:00 PM
From: Bearded One  Respond to of 9285
 
Unbelievably, Microsoft seems to have resistance on the upside of 130. I never thought I'd see the day. Anyone have any theories?



To: Jim Rathmann who wrote (6352)10/31/1997 3:37:00 PM
From: Market Tracker  Respond to of 9285
 
Hi Jim, I think we are clearly seeing an example of the big $$ selling into strength. It doesn't appear to be program selling, just steady selling as the market rises, very much similar to an overhang on the entire market. Big trading volume and relatively sluggish averages the past couple of days. I can't say I know what to think of it, though a drawn out correction could be in order through tax selling.
MT


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