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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Mama Bear who wrote (45905)	2/5/1999 4:12:00 PM
From: Merritt	Respond to of 132070

Mama Bear: No, you're not wrong...as far as it goes. The DOW peaked on 1-8, and the rest of the indices didn't peak until 2-1, with the NAZ being the top performer. But what I was referring to was how money came into the DOW stocks about 12:30 (ET) yesterday, and slowed, then reversed (for awhile) the decline...while the broader indices continued to fall. That, plus yesterday's decline in the SPX should have been good for about a 200 point drop in the DOW, and today's SPX down move would normally indicate about a 100 point drop in the DOW. With only 30 stocks, the DOW seems open for manipulation...for an entity with very deep pockets, and a motive. It could be I'm reading something that isn't there, but I wouldn't care to be long this market once Clinton's been "acquitted." The next month, or so, could be very rocky, what with probable Japanese money repatriation.

To: Mama Bear who wrote (45905)	2/5/1999 6:54:00 PM
From: Greg Jung	Read Replies (2) \| Respond to of 132070

<the Dow didn't go up as much> remember it didn't decline very much, either, in the fall relative to tech. While banks were hurt and others had their dips, IBM chugged along higher and higher. Now its IBM down and most of the rest holding their own. Some buyback capabilities there also may be at work in propping price at critical junctures. Funny how on days like today the market is always decsribed as the percentage from its highs rather than the ridiculous percentage from recent low points, or for that matter above any value for reasonable expectations. Higher new highs is assumed to be an inevitable occurence. Greg