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The positive for the NDX at this point is the TRINQ has dropped below 1.0
and its peak this morning was lower than Thursday. The issue and volume
spreads are still negative but the cumulutive volume has gone flat which
sometimes suggests a trend change in price. I wouldn't give up on the end
of month seasonality just yet. So just watch for a narrowing of the advq -
declq and uvolq - dvolq.
BR
-----Original Message-----
From: Gitanshu Buch <OnWingsOfEagles@xxxxxxxxxxxxx>
To: realtraders@xxxxxxxxxxxxxxx <realtraders@xxxxxxxxxxxxxxx>
Date: Friday, July 28, 2000 10:25 AM
Subject: [RT] RE: Re: MKT: NDX
>>I am looking for a long side entry here off the low (if I am lucky) to
take
>advantage of first of the month seasonality.
>
>Isn't seasonality also what everyone expects to make the market bounce?
>
>In April we heard talk like its oversold - and the indices tanked 15% off
of
>those oversolds anyway.
>
>If they couldn't do it at the textbook 90 on the queenies, why would they
>want to go home long over the weekend?
>
>If the Mercury turn can't kick it in, I wonder what will....
>
>The generals haven't been shot yet - and my generals are INTC CSCO SUNW EMC
>AIG C AXP SEBL ORCL JNJ PEP PFE. For position traders, these are worthless
>rotational moves at the cusp of the trend.
>
>If they also want to make good for NOK (the average big gun growth fund
lost
>4% yesterday alone) I would think right now the prevailing thought is,
shoot
>first, ask q's later - or "get small get lean get into cash"....every once
>in a while comes a monthend where reverse seasonality kicks in. Aug 31 1998
>or 99 comes to mind - the Dow -554 day which took Ron Insana down to the
>floor.
>
>Just being contrarian to popular thought, no criticism intended.
>
>Gitanshu
>
>
>
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