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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: Copeland who wrote (8449)	2/12/1999 2:15:00 PM
From: LastShadow	Read Replies (1) \| Respond to of 43080

XLK The Technology SPDR Trust is down 4% after two huge sells of 200k shares this morning. Unlike stocks, one can sell on a downtick with the SPDR's. The Bid/Ask sizes are 11 x 999 (large, very large) so that doesn't bode well.. DELL is staying above 91 though, but Gold stocks and some of the small caps are running. On the downside, the IPO's really aren't doing well, and that is not a good sign. Vert was great on an up day, but SRNA is a buck below where I thought the bottom would be - even for a down day. We still haven't given up all of yesterday's gains, but the last hour or two should be telling. The Indices have risen a bit since they hit their lows, but I am not seeing any large quantity or size of buys coming in now to say that its a local bottom. From about 2:30 on we should be able to get a good idea if the sentiment thinks this is the bottom or not, as accumulation will pick up and the indices will rise. If they fall, then Tuesday should get real interesting. The rise in theYeild of the 30 yr treasury notes is not a good sign. lastshadow