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 : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Chris who wrote (13862)	8/4/1998 4:34:00 PM
From: ViperChick Secret Agent 006.9	Read Replies (1) \| Respond to of 42787

if we open down and move up tomorrow that is a good sign...we got capitulation today for sure if anyone is looking at briefing com...they have a new lows at about double of what yahoo has it... quote.yahoo.com Close Dow -299.43 at 8487.31, Nasdaq -65.42 at 1785.68, S&P -40.29 at 1072.15: A sputtering equity market broke down today with aggressive selling hitting on virtually all fronts... In a bearish development, the indices finished at their lows of the session with a sell program in the final half hour knocking the Dow back an additional 160 points, and turning a bad day into a really bad day... While investors continued to grapple with the same litany of concerns, most notably a slowdown in earnings, they were broad-sided today by comments from Prudential analyst and long-standing bull, Ralph Acampora, who revised his stance and conjectured that a 15%-20% correction for the Dow was in order... Prior to this report, the equity market had already been struggling as investors were using any sign of strength as a selling opportunity... Financial and technology stocks paced the selloff that came amid very heavy volume on both the NYSE and Nasdaq... In a bothersome technical development, the Dow took out key support at 8569 and appears headed for further losses with 8150-8200 most likely the next stop... For the day, the Dow fell 3.4%, the Nasdaq 3.5%, the S&P 500 3.6%, and the Russell 2000 2.8%... Decliners swamped advancers on the NYSE by a better than 5-to-1 margin... The number of issues reaching new lows (1233) versus those hitting new highs (56) was another indication of the decidedly negative sentiment held by investors... Benefitting from a flight-to-quality flow, 30-yr bond ended +15/32 at 5.63%, erasing earlier losses tied to a weak dollar... DJTA -110.77... DJUA -6.59... SOX -7.86... XOI -8.18.