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Ira,
Keep in mind that Saturn will go Direct over
the weekend, so this is a high probability point for a change in trend.
How does the market keep going down in the face of such a point? It goes
up to avoid making a bottom. An up day Friday increases the chances for a
down week next week. A sharp down day Friday followed by a sharply lower
opening on Monday will increase the chances for a low on Monday and an up trend
next week. I favor the former scenario. This is a good time to get
flat and see which way the winds are going to blow.
Cheers,
Norman
<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
ira
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="">REAL TRADERS
Sent: Thursday, February 20, 2003 4:13
PM
Subject: [RT] Stocks
In looking for something to do I started to scan
my stock list. All I can say is that things look real ugly right
now. In many instances price didn't rally much in the face of good
news, short covering and bargain hunting. With expiration tomorrow it
appears that a lot of puts might get exercised. If that does in fact
occur there will be more downside pressure on the markets. Monday's
price action should be interesting.
The inflation report today didn't help things
any. Another move in gas prices to over $2 per gallon in my area
reinforces what I have been saying for months. The government may not
realize that there is inflation by their numbers, but by mine, the cost of
living has been increasing across the board for a couple of years.
Have a good week end. IraTo
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