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Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?

To: WBendus who wrote (47465)	7/9/1998 12:45:00 AM
From: Patrick Slevin	Read Replies (1) \| Respond to of 58727

Well, the concept that Japan is getting it's act together is not necessarily bullish for the U.S. The U.S. was the benefactor of "flight to quality" money from Asia, wouldn't you say? So if Japan is getting it together wouldn't that money get repatriated? I have not been following Europe, but the Earnings picture to me is skewed. Many of these companies downgraded or had their prospective earnings downgraded. So if earnings appear to exceed it's a ho-hum. I'm a bit tired, so if I am not making sense I apologize, but with regard to the SOX....it appears that has been rising simply to cover weakness in other averages. The Oils and Utilities to name two.The conservative money goes there, how come they are retreating? People I follow who I think would know have noted the volume of cash put to work in the S&Ps over this week is thin by recent comparisons. I don't have a money flow study either though. One way to note institutional activity is to watch individual trades. Seeing crosses of 200,000 share blocks is not Mom and Pop or a widow and orphan. But I don't watch that closely. One could, by filtering out all trades except pre-defined large ones. But I only notice it by chance here and there. There was not a late inning climb in the spoo but on the other hand there was a sustained move that started at around half one Eastern and so a bit of profit-taking may have been in store. Most don't like to hold overnight I would think. Anyway, I'm prepared for the market to go either way. I am more on guard for lower than higher however.