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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: dennis michael patterson who wrote (20529)	4/19/1999 4:51:00 PM
From: Robert Graham	Read Replies (2) \| Respond to of 42787

The speculative money has moved over there for allot longer than 90 minutes. I do not remember the exact date, but I am thinking well over one week ago, and closer to two weeks. This was the first of several steps I have been seeing money take in exiting the NASDAQ market. Didn't you see the increased volatility in select issues which ended up being the secondary issues? Didn't you seea "thinning" of issues that were actively participated in along with this increase in volatility that allowed you to see gains or 10 or more points in multiple issues of this group at the same time? Sounds to me a market turning illiquid. And the NASDAQ market continued like this over a period of time which indicates a more longer term displacement of speculative monies from NASDAQ and the tech leadership. This is very, very unusual and should of been heeded as a warning. This in conjunction with the continuing movement of money out NASDAQ should of painted a very distinct picture of the market. Lets see if I have the order of events right. First the speculative money left the market. There then was a gap up that facilitated the initial move of fund money from this market. This was soon followed by the two day sell off which was a gap up that facilitated additional buying that the fund money sold into. Now we are seeing continued selling. All of this and more was good evidence that something was going on here. Ever since the two day sell off I knew the NASDAQ market was in for more trouble. What puzzled me was the S&P 500 which was not following up the DJIA as the rotation continued in its recent stage. Now we see the DJIA and S&P 500 rocket up to just rocket back down and both to end up under water. I think we are seeing two groups of monies in action. One type of player is moving from the NASDAQ to the cyclicals an other value oriented sectors. The other type of player is seeing money come in to lift the stocks they have been sitting on and wanting out from. This money is selling and moving to...where? Out of the market? I will need more information to confirm what is suspect to me. I do not think we have seen the end of the selling in the DJIA and S&P 500. I would like to find out if sidelined money started to enter the market in quantity. Bob Graham