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Ben,
I don't think so, I don't trade the S&P, but I do trade some of the
stocks that are in the S&P. IMO, today was just money managers putting
money in the market, because they had to. Trading some stocks today was
way to difficult. Very small trades (100-500), market makers very scared
and only concerned with 1/16 ( NOVL), and running it up scared. Stocks
like CPWR which trades like every second of the day, was having time spans
of 2-4 mins without a trade and if it did trade, was only 100 shares.
We've also seen Greenspan tell the market what it wants to hear and
the market still drops. Currently, we are in the beginning of a down
trend, in one of the best months of the year to be in the market we are
down ~5-7%. Unless Greenspan pulls another Sept/Oct 98 trick, I think we
will go lower.
Below is just a weekly chart.
TradeWell,
Joe Frabosilio
Proffittak@xxxxxxx wrote:
> Hello
>
> The last 3 attempts of the SP to get over the 89 hours exp. m/a failed
> would it make it this time?
> Regards,
> Ben
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