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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (16467)	6/9/1998 8:34:00 AM
From: j g cordes	Read Replies (1) \| Respond to of 69026

On EPC overboughtness.. Harry, did you notice yesterday the low volume and how (.. at least to me), the futures seemed to be driving the averages through index buy/sells in a controlled range. I was watching the spread, whenever it fell to 65 ish it slowly pulled the market down to a support level where if the spread went to about 25 suddenly it would jump in one microsec up to 265, pulling up the OEX and S&P. It did this a number of times. It was as if the retail and fund customers were aimless, thus allowing the Chicago games to run the market in a channel of buy/sell... There are still believers out there and plenty of cash... which is like predicting where drunks will drive their cars. Motorola yesterday was maintained as a buy at Gruntel even though they said it would lose for the next two years and that this years earnings would be cut in half... hate to see what a sell reco means.