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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: Glenn who wrote (2414)	12/4/1998 11:40:00 AM
From: Mao II	Read Replies (1) \| Respond to of 90042

G: My first thought (like Tim's) was that this is a classic sucker's rally. It may turn out that way still. My next thought is a fundamentals-based rally. In other words, funds and pensions have gained some confidence thanks to the euro rate cut, the productivity numbers, the low uptick in hourly wages. Check out the sector indexes: cbs.marketwatch.com all sectors are up at this point, with the exception of gold, oil, reits & software (thanks to BMCS & ADBE). Forest products and paper are flat. Even utilities are up. So basically the market is showing strength in face of low inflation with some wariness about deflationary pressures in commodities. No news there. So it beats me. Downside risk, in general is a hell of a lot greater than upside. That said, I'm still playing VTSS. I guess the short answer is, keep a short leash and let em run only if you got a firm grip. M2

To: Glenn who wrote (2414)	12/4/1998 9:43:00 PM
From: Don Pueblo	Read Replies (1) \| Respond to of 90042

<<I remain confused about this rally.>> Me too! I thought the market would pull back. In hindsight, what I think happened is the rally that started in the morning (job numbers) just never faded. The sellers just never came in. But, Glenn, you have to remember that the market will not do what you think it will all the time. Let me put it another way: if you get to the point where you always know what the market will do, I have a very lucrative job for you. VERY lucrative. <ggg> I was very lucky today, my first trade was short MALL at 39 1/4, and I happened to pick what ended up to be a grand slam home run. I've been shorting it for three days. There is a really interesting debate going on where I trade; the bulls and the bears are even in number and the bulls think the market is going straight to 10,000. They might be right.