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Hello M.,
My paranoid suspicions (that I don't trade on) say August is always a
low volume month, there are 600 or so hedge funds out there who can
have their way with the market because the big houses are on vacation.
So the program guys can go wild, move the market on lower volume
trades, suck in the weak hands to chase the market.
My second level of delusion is that the hedgie's are actually under
contract to the big houses and funds to run the market up so their
retail salesmen (brokers) can call up Grandma and Joe Sixpack and
show them how the market has made the turn, get in now before its
overbought again.
Re the CIA--how can they be so dumb on certain things and smart enuf
to move the market around. You can't have it both ways. :)
Best regards,
Jim Johnson mailto:jejohn@xxxxxxxxxxx
--
Thursday, August 15, 2002, 12:00:20 AM, you wrote:
MS> NYSE volume of 1.5 billion today.....weak ?
MS> Also, let's not forget the Sept 30th date in NEON LITES hanging in the white
MS> house......
MS> they gotta keep the market up till then.....or else WHAM, goodbye GOP in
MS> November.
MS> These fierce non-news-related afternoon rallies are just so suspicious.....I
MS> wonder if Bush has the CIA hitting the BUY order buttons all afternoon in
MS> 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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>>
>>
>>
MS> To unsubscribe from this group, send an email to:
MS> realtraders-unsubscribe@xxxxxxxxxxxxxxx
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