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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Patrick Slevin who wrote (15655)	9/26/1998 4:00:00 PM
From: Jenna	Read Replies (1) \| Respond to of 120523

Patrick, welcome to our thread! I agree about the S&P futures, however I feel this was more the case BEFORE August 19, 1998. I'm by no means a futures expert, but I have followed market opens like a hawk for the last 2 years and never have I seen morning trends reverse so quickly as they have in last 5 weeks. Perhaps the S&P futures being down 13 at the open would have, 8 weeks ago, presaged a dismally down day for the entire trading session. But maybe traders are clinging to a light at the end of the tunnel, a grasping for any sign the market has bottomed, an overly optimistic expectation for a market turnaround after the FED reduces (assuming they do) rates. I think these fluctuations are based on sentiment rather than fact. If it were fact alone, then the markets would be down more consistently.. I also think these fluctuations can no longer be predicted by market indicators. Indicators could be adjusted with different parameters for the future but the bottoms have to get readjusted lower. 15-20% intraday increases in some stocks were never this rampant, although the 25-30% decreases were.