|
PureBytes Links
Trading Reference Links
|
Just a reminder
Please remember that all of the mutual fund money is automatically
deposited in the last 2-3 days at the beginning and end of each month.
Although we have a different situation this time usually monies are
automatically sent in during the last and first of the month,
this explains the strong end and beginning periods each month.
But since AUG 1 is friday we may seeing the $$$ coming into the market now
and may not see a follow thru on Mon.
My "gut" on this is going to keep me long till friday Since we are in
uncharted territory and then close out any long postions.
Just my 2 cents
al
At 08:25 AM 7/31/97 -0400, PJLaird@xxxxxxx wrote:
>Subj: MKT - Breakout?
>Date: 07/30/97
>To: realtraders@xxxxxxxxxxxxxx
>
>File: C:\AOL30\CHARTS\BREAKOUT.GIF (13980 bytes)
>DL Time (TCP/IP): < 1 minute
>
>Congrats to those who called this up move.
>
>The surge this morning through short term, and then longer term trendlines
>has some of the ear marks of a breakout. I should know by now to ignore my
>gut feelings entirely.
>
>It think tomorrow and Friday are pretty important in establishing if we are
>starting a new acceleration phase to the upside. As I'm sure others have
>noticed, a valid trendline once crossed in an aggressive fashion will become
>support for a further move to the upside. We need to put some distance
>between ourselves and the longer term upper trendline fairly quickly, or we
>run the risk of witnessing a false breakout.
>
>There seem to be several indicators supporting all this, but there is one I
>use that is a bit of a negative. It involves the action of GE. GE
>invariably moves in lock step with the DOW. For the past two days however,
>GE has been down, while the Dow and the rest have been moving up. This is
>unusual, and GE is on the verge of breaking a lower trendline going back to
>April. I hate fundamentals, but does anyone have a plausible reason as to
>why GE is slipping?
>
>PJLaird
>
>
>Attachment Converted: "d:\eudora\attach\BREAKOUT1.gif"
>
|