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

To: GROUND ZERO™ who wrote (29539)	9/30/1998 3:03:00 PM
From: yard_man	Read Replies (2) \| Respond to of 94695

I disagree.

To: GROUND ZERO™ who wrote (29539)	9/30/1998 3:44:00 PM
From: P.T.Burnem	Read Replies (2) \| Respond to of 94695

100 point rally from here by the close would bode well for tomorrow. The market needs a reason, whether real or imaginary, to a rally, and I can't think of any except for short-covering and possibly tape-painting.

To: GROUND ZERO™ who wrote (29539)	9/30/1998 5:53:00 PM
From: donald sew	Read Replies (3) \| Respond to of 94695

GZ, >>>>>>>>> Maybe now. 100 point rally from here by the close would bode well for tomorrow. <<<<<<<<<< At about 3:45 the tick was about positive 100 while the DOW was down 255. They did try to run it up at the close but failed miserably. After 3:45 they ran the TICK up to around 900 - that was a big BUY PROGRAM to move the TICK from 100 to 900 in about 10 minutes. However the DOW still closed down 237, so that 800 point upswing in the TICK produced 17 point positive move in the DOW. Thats not a good sign for the upcoming days. I think they will try to rebound this market some tomorrow, and as long as todays highs at 8080 hold, this downswing will still probably continue. If the rebound is only about 50% of today's loss(120 points), then the probablity is extemely strong for continuation to the downside. To specificly reverse this downswing tomorrow(specificly tomorrow) it would require a upswing of about 250 points specificly tomorrow. Later on it will be technically easier to reverse it, but for specificly tomorrow it is extremely unlikely for a complete reversal. A bounce of 100 points to the upside tomorrow will strong probability of being sold off. 7700 needs to hold, if not the last support is the 7500-7400 range. Seeya