SI
SI
discoversearch

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 : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?


To: Gabriel008 who wrote (52721)9/15/1998 7:02:00 PM
From: Stephen  Read Replies (2) | Respond to of 58727
 
I haven't been paying attention today, but did overhear the trader in the pits say that the pros who need to buy stock to square positions for this Friday have been doing it early (impression I got was yesterday and today) and that action is far from being all real buyers. I got the impression he was negative on the market for the rest of the week from his tone .... so after a slight upbeat tomorrow, I personally expect a pullback.

In any event, as many have pointed out, we're trading in a range and are at the top of it. We'll see if the resistance holds, and if we then do test the lows again, I would expect a bounce even if we go through it shortly thereafter. All things taken even, perhaps at the end of the day it will all depend on the timing of any positve or negative news. It sure seems like everyone and his brother is trying to keep the world markets afloat with either analysts talking about undervalued (AJC) or upward momentum (RA) .. or the IMF & World Bank pledging support for SA countries and approving some loans for Asia (I think I saw one approved for Thailand a couple of days ago) and then Clinton and Greenspan talking about rate cuts etc. Of course, despite this, things still hang on the edge and the market is nervous. Interesting times

Good luck all

Stephen



To: Gabriel008 who wrote (52721)9/15/1998 11:13:00 PM
From: wiley murray  Respond to of 58727
 
GD: Good points. I agree with your summary. He will indicate nothing tomorrow in order to keep the market on a string. Sell on the news will come on 9-29 when they do nothing.