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Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?

To: Lee Lichterman III who wrote (56234)	10/24/1998 11:57:00 PM
From: Alias Shrugged	Respond to of 58727

Nice post, Lee. Thanks. Liquidity was being drained from small stocks since ... April? Large stocks were drained from late july onward. This relief rally seems to be reflating most everything (with a few curious exceptions you noted). Banks are going back up. Even the oil drillers! Most everything looked equally beat up. All the institutions are placing their bets, choosing their dance partners. Money was still chasing stocks on friday, despite the downday. Both IBM and WMT were strong. I am watching these two to play long term on the downside. This whole rally is sentiment driven - relief that the financial world did not implode (not that it may not in the future). Relief that the constant drumbeat of bad news stopped and that somebody (that being big Al) was going to do something! IMO, much more bad fundamental news is coming our way via worldwide recession. Sentiment will flip-flop several more times as the market slowly but surely descends. I am short-term trading only. I am even trying to (god forbid) profit on the upside during this rally<G>. Look at the oil driller charts since last November. This is the Ghost of Christmas Future. Mike