Forum Archive Index - May 2000

["nick" <acummin@es.co.nz>]

            Todays rise has to be taken in context. The US
has had a holiday on monday, many would of made a decision
to buy into the nasdaq percieving a bargain opportunity. Meanwhile
those who were going to sell would of either done so last week or
were intending to see what the market did today. It went up so they
didnt sell.
       This is shown by the light volume, limited buying and very little
selling.
Make no mistake though, there will be plenty of selling  pressure
from now on.  The investors who held off selling today will do so at the
first sign this
rally as at an end, putting the index back on its bum.
          In a sense its a self fulfilling prophesy, the more they push the
market up the more likely interest rates will rise.

      nick


>
> Yes it was good, however, I'm not getting my hopes up. These increases
were
> on very light volumes, and also off no major economic news. If the
economic
> indicators due out in the US later this week do not show slowing growth,
> then this could reverse itself pretty quick.
>
> Although I for one certainly hope it does not.
>
>
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