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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: James F. Hopkins who wrote (14449)	5/20/1999 9:35:00 AM
From: StockOperator	Read Replies (1) \| Respond to of 99985

Jim, I could not disagree with anything you said. As I said yesterday the scale of excess is definitely being tilted towards the dangerous side. However, I believe ours is a world where market volatility and the almost instantaneous accumulation (and LOSS) of wealth is here to stay, and if anything should greatly increase as the avgs. go higher and higher. Think about it most people no longer get excited about a 50 pt advance in the DOW. Something that was a very big deal not too many years ago. Because of that I do agree with you that the next correction in the market will surely catch many people off guard and because of this increased volatility, I think it's a definite possibility that many could lose all of their gains in a small fraction of the time that it took to make them. The timeframe could be like a "blink of an eye" for wallstreet. What happened in 87 could indeed happen and most likely will happen again some time in our future. Which tells me that the one thing that we can count on the most when investing in the markets is investor's psychology. It is the one thing that will remain constant, regardless of where the market's go from here. Regards, SO

To: James F. Hopkins who wrote (14449)	5/20/1999 7:20:00 PM
From: James F. Hopkins	Read Replies (1) \| Respond to of 99985

To All; Program trading NYSE May 10-14 program trading averages 17.3 pct NEW YORK, May 20 (Reuters) - The New York Stock Exchange said Thursday program trading averaged 137.2 million shares a day, or 17.3 percent of its average daily volume of 793.5 million shares for the week of May 10-14. Program trading accounted for an average of 17.1 percent of average daily volume of 870.6 million shares for the week of May 3-7. Of the 137.2 million shares daily, buy programs accounted for about 59.6 million shares of the daily average volume, while sell programs accounted for 77.6 million shares. My note ; the above figures don't add up, but Reuters is always good for crummy news; the best I can figure is that the precentage of buys to sells is for the week of 10-14 --------------------- At any rate It's distribution, and J6pack is buying them up.. We may have a little more wind left but with Big money selling 77.6M for every 59.6 million they buy I suspect next week will send a message to the newbie market is going to make me rich bulls. Jim PS I do Hope for a strong bounce tomorrow.