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

To: HairBall who wrote (23969)	8/11/1998 9:44:00 PM
From: James F. Hopkins	Respond to of 94695

Hi LG; I use the terms , distribute accumulate in respect to the S/MMs for the sake of simplicity. The picture I have of today is that when they saw the per-market sell/buy orders they took all the short positions they could get right on the open, then late today they closed these extra shorts causing the pop. Most of the time the S/MMs hold and work from a short position that they adjust, it's just easyer to picture the distribute, accumulate as a long position. Like when we talk of refigeration, we talk hot and cold, but really it's all a transfer of heat, the air is not really made cold, heat is removed from it. Jim