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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: HairBall who wrote (1431)	12/12/1998 8:28:00 AM
From: Patrick Slevin	Respond to of 99985

<I don't understand why you keep bringing up EGGS with regard to the Market direction. I never said anything relating EGGS to anything but the fact that I had money bet on the direction of that stock when the Market popped today.> Because the conversation was about why the direction of the market reversed. EGGS does not move the market, the market moves EGGS. To recap, #reply-6788889 Do you view this spike up, as S/MMs taking out the short stops or what? #reply-6789331 If I had to guess it would be some version of a stop run as the action yesterday probably got a lot of people short. #reply-6789759 TIKI hit the max at plus 30 which can be considered to be a sustained push to bring it (the market) higher #reply-6789939 When ever I see sharp spikes that are not event driven and many stocks move as a school of fish or flock of birds in unison with the major indices, I smell manipulation. #reply-6791005 <I smell manipulation.> There's always some of that. #reply-6794645 <The eight minutes prior to the pop up, EGGS traded approximately 50K shares. The first 4 minutes of the pop EGGS traded approximately 135K shares and for the next 4 minutes EGGS traded approximately 145K shares for a total of 280K shares in the first eight minutes into the pop. I do not believe individual investors could have reacted quickly enough to facilitate that amount of volume increase. It HAD to be MMs forcing short position stop loss triggers. #reply-6798634 Frankly, I do not think EGGS is that important in the scheme of things #reply-6799405 Only to my wallet. #reply-6800514 Well of course I have no personal interest in EGGS one way or the other, I'm just saying that it well not be of major import with regard to overall Market Direction. ____________________________ My last remark was made in the knowledge that you lost on the bet in EGGS, that is all. As for the political remark, I believe it is on topic because it comes up in much of the talk on both of the threads I look at. My opinion is, it is a negative to the market. My sense of it is, the issue is partisan and people in both parties have turned it into a freak act. It certainly will have an impact and probably has had an impact on financial markets. I wish to stay detached from it, because I wish not to presume the market will do this or do that based on what happens or does not happen. Thus I say that the approach as always is to treat the market as a business. In any event, I do not wish to contentious on these points nor any others so I shall drop it. I really have no interest in politics nor individual stocks anyway.