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Statistically, Thursdays have the highest probability of any day of the week
to being a down day, i.e. the weakest day of the week. Likewise the VIX has
the highest probability of being up on Thursday 70% of the time.
bobr
----- Original Message -----
From: "James Taylor" <jptaylor@xxxxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, July 12, 2000 10:58 PM
Subject: [RT] Re: Gen:Nasdaq Cot - something for Nasdaq to think about
tomorrow
> Wednesday July 12, 8:40 pm Eastern Time
> Tokyo stocks slide, Sogo bankruptcy hits sentiment
> TOKYO, July 13 (Reuters) - Tokyo stocks wilted in early Thursday trade, as
> market sentiment soured on news department store operator Sogo Co Ltd
> abandoned plans for a public bailout and filed for bankruptcy.
>
> The benchmark Nikkei average fell 149.71 points or 0.86 percent to
> 17,192.42. by 0014 GMT after opening in positive territory. The
> capital-weighted TOPIX index (^TOPX - news) of all first-section shares
> slipped 12.68 points or 0.79 percent to 1,591.72.
>
> Sogo was ask-only at 53 yen from Thursday's close of 83 yen and the Tokyo
> Stock Exchange said it would delist the shares on October 13.
>
> ``But in the long run you know, this is not bad news, since it's about
> corporate Japan taking a harder, but right way, toward restructuring,''
said
> Hidenori Karaki, equities manager at Tokyo Mitsubishi Securities.
>
> Banking and construction shares fell on Sogo's news.
>
> Industrial Bank of Japan Ltd , Sogo's leading creditor, was ask-only at
746
> yen against its close on Wednesday at 776 yen.
>
> Kumagai Gumi Co Ltd tumbled 29.49 percent to 36 yen, while Hazama Corp
fell
> 30.77 percent to 36 yen. Some investors had been speculating the two
ailing
> contractors would get public funds if Sogo did.
>
> But some technology stocks were spared the gloom after the U.S. Nasdaq
> composite index (^IXIC - news) rose 3.62 percent to 4,099.59 overnight.
>
> Internet investor Softbank Corp was bid-only at 11,830 yen, against
> Wednesday's close of 11,630.
>
> Declining shares outnumbered losers 743 to 370 on the first section of the
> Tokyo Stock Exchange at the start of trade.
>
> ---------
>
> given the volitility in this US market (especially this index), chasing it
> higher here, after a 4+% run-up in two days is a recipe for losses (at
least
> short term ones) IMHO.
>
> JT
>
> ----- Original Message -----
> From: "BobR" <bobrabcd@xxxxxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Wednesday, July 12, 2000 9:40 PM
> Subject: [RT] Re: Gen:Nasdaq Cot
>
>
> > I have to share Ron's skepticism, but in the meantime I also have to
> follow
> > the cumulative volume and price trend. Both of which seem to suggest we
> are
> > in the middle of that old fashioned summer rally that has its roots at
the
> > end of May. Both the Nasdaq CV and NYA CV tested and are coming off of
> that
> > classic 21 day XMA with price targets at the 0.5 and .618 levels next.
> >
> > BobR
> >
> > ----- Original Message -----
> > From: "Ronald McEwan" <rmac@xxxxxxxx>
> > To: <realtraders@xxxxxxxxxxxxxxx>
> > Sent: Wednesday, July 12, 2000 7:35 PM
> > Subject: [RT] Gen:Nasdaq Cot
> >
> >
> > > The attached gif depicts the Nasdaq weekly closing prices with a plot
of
> > > the Commitment of Traders data on top. I leave the interpretation of
> this
> > > up to you. I will say, that I expect the CNBC talking heads to be full
> of
> > > great reasons for buying all the Nasdaq stocks their friends at the
big
> > > Wall Street firms are looking to unload on the public. (After all when
> > > was the last time you took one of them out to dinner!) Just my
opinion.
> > >
> > > disclaimer stuff:
> > > this is not a trading recommendation.
> > > for informational purpose's only.
> >
>
>
>
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