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

To: William H Huebl who wrote (18630)	5/18/1998 9:21:00 AM
From: James F. Hopkins	Read Replies (1) \| Respond to of 94695

Bill; Well 2 or 3 weeks fits that June 6th to 8th thingy..at least the 3 weeks does. So far it's just been a mild correction, and with all the bad news the market has had it has held up well. It wants to go up but just needs to catch it's breath. For the last 10 days or so it's more or less held a trading range. I don't have good data on the derivatives but can guess at them good enough to know that the hedgers will lose money if we don't get more movement one way or the other. Seems the program trading has been the thing that has set the course for the last 10 days..running at about 20% of the volume, the rest of the market chasing them up and down. Still with expense and spreads and all; only the majors who can trade dirt cheap can ilk out a profit on the broad market on these more recent moves. While the indexes may show us a stronger correction in the next 3 weeks I do think half of it is already over. ( market cap wise ) In time this build up of program trading is going slant the playing field so far against the individual trader that finding stocks outside the S&P is going to be the best field for the little guy to play on. Got 7 on my radar but have not bought yet. ( except a few gold miners )..and still holding two CE's. Wow I just found a share ware program that will actually help me correct my spelling in one of these windows. I got it off a CD and will try to put in a download section of my home page latter this week. Jim