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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Barbara Barry who wrote (18314)	5/11/1998 6:04:00 PM
From: donald sew	Read Replies (3) \| Respond to of 94695

Barbera, From a non-technical point of view, I feel that the big boys knew exactly what they were doing, and did it very well which will hurt the small guys more. The big boys as many probably did feel that the market could be pushed up substantially more as it was this morning. If not for the interest rates zooming upwards today the rally today would have held and probably some more up tomorrow thru WED/THUR to the 9200-9300 range. If you noticed there was not a huge sell program which took the market down 100 points in a few minutes but it was organized and smooth. So as the big boys sold off systematically and slowly, the inexperienced small players were buying keeping the market from dropping too fast. The dow got down to the teens then came back up about 30 points. I wonder if there was a buy program that made that pop at the end of the day or was it small trades from inexperienced small players. I think we may get one more chance tomorrow at the open to initate puts, since there will still be dipsters around buying at the open. I have to voice a warning. A friend of mine was approached by his broker today to heavily invest in bank stocks. My friend prefers to only play bank stocks and his broker knows it. I told my friend that either his broker was an idiot not to realise that bank stocks may not be the best investment when interest rates are zooming up, or that he was hard up for a commission. My friend is low-keyed and does not follow the market often, so he could fall under the category of "EASY-PICKING" for an inscrupulous broker. Seeya