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

To: Susan Saline who wrote (14518)	5/18/1999 4:13:00 PM
From: chartseer	Read Replies (1) \| Respond to of 43080

YUM: Looks like it may retreat to the low 50s to me, but then what the heck do I know? chartseer

To: Susan Saline who wrote (14518)	5/18/1999 4:27:00 PM
From: LastShadow	Read Replies (1) \| Respond to of 43080

Market Wrap Actually, the selloff was pretty light - only 860 million shares traded on the NAS today, and advances were about equal to declines, although on the NYSE, the volume of the advances (although fewer than decliners) was about a third higher. Futures don't look too bad right now, but tomorrow should be an interesting day. If a lot of overnighters decide to exit, there will be a bounce back up by about 9:45. Whether that has any elasticity my have more to do if there are any funds buying in on that drop or not. Personally, I'd rather have the correction and get it over with, but with 35% of the market overvalued (it was about 40% in Oct 87) this weaving could go on until mid June - at which time the fed's will raise the rates if they sense inflation is still rising. lastshadow