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Re. volume I meant prior today action has been on weak volume.
John
------------------ Reply Separator --------------------
Originally From: "M. Simms" <prosys@xxxxxxxxxxxxxxxx>
Subject: RE: [RT] Thursday Prognosis of S&P
Date: 08/15/2002 00:00am
NYSE volume of 1.5 billion today.....weak ?
Also, let's not forget the Sept 30th date in NEON LITES hanging in
the white
house......
they gotta keep the market up till then.....or else WHAM, goodbye GOP
in
November.
These fierce non-news-related afternoon rallies are just so
suspicious.....I
wonder if Bush has the CIA hitting the BUY order buttons all
afternoon in
the eminis.
> -----Original Message-----
> From: John Cappello [mailto:jvc689@xxxxxxx]
> Sent: Wednesday, August 14, 2002 7:38 PM
> To: realtraders@xxxxxxxxxxxxxxx
> Cc: MedianLine@xxxxxxxxxxxxxxx
> Subject: [RT] Thursday Prognosis of S&P
>
>
>
> I know general TA consensus says that we have broken a major
> resistance and 947 or better is in sight tomorrow.
>
> This may be true but this rally could have also been fueled by the
> absence of major bad news and CEOs signing on the dotted line.Plus
> coming off the heels of a major decline never hurts.
>
> Tomorrow I believe that:
>
> 1. UAL will announce Bankruptcy plans
>
> 2. Major CEOs of certain firms will not sign
>
> 3. Companies will announce a need to redo back years
>
> 4. While we passed the early Aug. high we are still below July highs
>
> 5. The 200 day moving average is a long way off
>
> 6. 775.9 may have been the low for this cycle but that does not mean
> 880 will not be retested.
>
> We can move higher but I think we will end lower. It would not take
> much to derail this uptrend which until now has been fueled by weak
> volume.
>
> This one may have passed a "magic" number but that does not mean
that
> it "is" the magic number to climb aboard.
>
> Thoughts?
>
>
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>
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>
>
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