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To: Mike Fredericks who wrote (1528)4/8/1999 1:11:00 PM
From: TWICK  Read Replies (1) | Respond to of 13157
 
Mike, 18 seems to be a strong support level. Lots of good sized blocks going through. Volume is also strong. Hoping we won't lose the momentum once TUNE sells off.

Twick



To: Mike Fredericks who wrote (1528)4/8/1999 1:15:00 PM
From: Skip Jack  Read Replies (1) | Respond to of 13157
 
Mike,

I do not profess to be a trading guru, but I have sat and watched the Level II trades that you are talking about. The are primarily going off as just Trades, with no bid/ask concurrent with these trades. The Atheist could probably explain it in better detail, but it looks to me as if the MM's are buying low and flipping and/or are covering their shorts from yesterday.

Just an idea.




To: Mike Fredericks who wrote (1528)4/8/1999 1:19:00 PM
From: VIXandMore  Respond to of 13157
 
One would think that there would be some drop when the profit takers sold, but I think we saw that in the 5 point drop from 21+ down to 16 1/4 earlier today... or am I just stabbing in the dark?

I don't know if the day traders have bailed yet, but the dark is bleeding profusely...



To: Mike Fredericks who wrote (1528)4/8/1999 1:22:00 PM
From: ed doell  Read Replies (1) | Respond to of 13157
 
I think the earlier poster's analysis is right on about the sales at the open, the excuse to capture of sell stops (SELL STOPS: ALWAYS THE WRONG THING TO DO IN THE NASDAQ)and cover some short sales they made to make a market, and now we have your analysis of the current price level which IMHO is right on.

We're waiting for the Fat Lady to begin her aria... she has many songs to sing, IMHO... this has a long script to play.

Ed



To: Mike Fredericks who wrote (1528)4/8/1999 1:22:00 PM
From: Ron Harvey  Respond to of 13157
 
To: M. Fred.

The ups and downs of very short-term trading will rarely tell you anything unless you're a day trader trying to scalp quarters and eighths. Otherwise, forget the constant pulse-taking and attempts to extract meaning from the vagaries of the moment. You'll make yourself crazy.


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