Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Monty Lenard who wrote (19285)	5/27/1998 9:16:00 PM
From: robnhood	Read Replies (1) \| Respond to of 94695

Monty, from my very narrow perspective the rally was cheesy. As usual sellers were only semi serious and vamoosed at the signs of buying entering the market. A lot of the buying that I saw was professional which IMHO will be looking to sell first thing tomorrow. If the funds and the public take the bait , their gamble will pay off. Serious selling will not enter the market until the public cease buying MF's, and actually start selling. From the little I have seen John Q take's the ostrich approach to declines and so far it has worked for 10 years. Anyway, the buying that I saw was questionable. FWIW and IMHO's apply... russell

To: Monty Lenard who wrote (19285)	5/28/1998 12:08:00 AM
From: James F. Hopkins	Respond to of 94695

That's the problem sometimes with charts, I have to also look at other stuff. Then internals look bad because they still are bad, the sweep up today was late and most likely index funds program trading and covering short positions, most of the trades today still took place below 1085..they just rushed the market late on and by surprise so for about an hour and a half it looks like there were more buyers than sellers.. that kind of recovery is not really a stong one. But it could bring in more short covering in the morning. And there is money in the money markets, so we could go up for a bit..but I do not belive the correction they want is finnished yet..we did set a new interday low..since the top was made..short term maybe up, mid term down, longer term up ( i think ) Jim