To: monsoon who wrote (878 ) 5/7/1999 1:03:00 AM From: 1-DAY-TRADER Respond to of 10027
one more point: do you know why the Dow was saved at the close yesterday ??? I am truly speaking what i believe about NITE, and i predicted what the markets have been doing for the past 2 days Now, Did you know the reason the Dow rallied at the close ?? someone needed to buy American Express sooo bad before the close ..he bought any share at any price at the end, thus causing the whole market to spirally rally at the end. but now, the S&P looks down so far ... check it out ( already - 1.3) cme.com Another theory of mine is that if the Institutions sold off all in one day, we would have disater on our hands, so, Greenspan basically told them to BRING IT DOWN on your own or else. He does not like the bulls driving the market to 11,000 levels in 24 trading days I think instiotions are dumping slowly, including those holders of NITE, but I dont know how to prove it. They dump all day, but then hike the prices again after each major sell off and at the end of the day by buying fewer shares and then re-starting the selling on the next open. Thats why you see the market rotating sectors to REAL value stocks tomorrow, the job report will be soo positive, the feds would be presured to raise it soon and the market analysts know it Most analysts on CNBC say that the feds will hike it eventually , but not on the same day of the meeting .. After the meeting, the feds will issue a statement that they are inclined to raise it, then they will raise it few days later ,,, all analysts are almost sure they will, thats why they rotated to defensive stocks ...be careful Chris plz Greenspan's speach itself confirmed this point of view and thats why NITE could not fly today to 160 again ..