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

To: Philipp who wrote (30902)	10/8/1998 5:42:00 PM
From: Ilaine	Read Replies (2) \| Respond to of 94695

Amen, brother. Re: the past two days, wild Dow swings ending almost dead even, either we are seeing statistical miracles, or a most naked example of the power of someone or something in manipulating the Dow. Not counting staggering deep declines on Monday that came roaring back, and probably more but I do sometimes do something other than watch the market. Although until this is over, I think I'll stay tuned. I am deeply impressed. But, I think this shoots the $%#&* out of every theory I can think of, Dow theory, Elliot wave theory, even efficient market theory. At this point, I halfway expect a flying saucer to land on Wall Street, and aliens emerge, and explain that they have been doing it. Or else some freaking great computer. Or maybe Allen Greenspan, going mano a mano with the hedge funds and currency speculators. Whatever. CobaltBlue

To: Philipp who wrote (30902)	10/8/1998 5:52:00 PM
From: Andeveron	Read Replies (1) \| Respond to of 94695

>> I have to ask myself whether they reflect real underlying bullishness or are just plain manipulation. << Looking at today's trading records, there was a gap at 3:46PM on the Dow where it went from -90.62 at a tick of +12 to -47.11 at a tick of +295. This happened in less than a half of a minute. I doubt if a tick of even +2000 would be able to pump the Dow that much that quickly... I believe it was gargantuan futures manipulation to spike it up in this manner. Saw it yesterday also. >> A possible sign of weakness is that they no longer seem to be able to manipulate the SP 500 atwill, just the Dow. << True, but all they have to do is pump the Dow up, the rest would move in tandem, albeit at a slower pace. Buyers and traders need to see something positive; the Dow remains the popular indicator for the market even if it is incredibly misleading. Someone looking at tomorrow's paper will notice the mild decline, which tells nothing of the -250 point drop intraday and the massive selling in the morning. Based on today's action, I think we have a strong rally tomorrow. People are still too eager to jump into stocks such as DELL and MSFT at what they deem to be bargain prices. Last Friday was a knockout punch, however misleading, to the Bears. Think we'll have deja vu...