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To: donald sew who wrote (52808)9/16/1998 11:04:00 AM
From: The Perfect Hedge  Read Replies (1) | Respond to of 58727
 
Look what happened last time the NYBP reversed up...

Message 5762556



To: donald sew who wrote (52808)9/16/1998 11:29:00 AM
From: AlanH  Read Replies (2) | Respond to of 58727
 
Donald, once again volume on down moves is very low...

As we lost 25 INDU pts in 5 minutes (10:20et), volume was among the lowest of the day. This does not suggest selling, rather a break in buying -- a momentary tilt in supply/demand. Should buyers gain the slightest confidence, we could have a rather pronounced rally.

As far as individual issues, this looks like a giant shell-game to me. Money seems to be sloshing around from stock to stock, but not departing the market. This suggests to me that investors -- although cautious -- are afraid of missing the next upsurge.

What d'ya think?

-Alan



To: donald sew who wrote (52808)9/16/1998 1:54:00 PM
From: Jorj X Mckie  Respond to of 58727
 
Donald,
Whereas the reversal of the NYSEBP is a very positive sign and we just pegged a higher high today, if the DJIA doesn't go to 8100, it would indicate that we are still in a trading range of about 450 pts with an upward trend. Right now we are at the top of the trading range, so I am looking at a pullback to the 7600+/-.

Message 5764801
Tom