Re: [CANSLIM] Action mostly at open...Inst. buying?

From: "Bill Triffet" <btriffet@earthlink.net>
Subject: Re: [CANSLIM] Action mostly at open...Inst. buying?
Date: Thu, 17 Oct 2002 20:28:46 -0700

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Tom & Patrick,
Yes I can see what causes this action. The point is so much of it happens
almost instantly at the open which  is the big traders. I'm just concerned
that these same folks (fund managers etc...) are buying/selling almost with
a daytrade mentality.  Seems a bit odd if we are going to see this market
move forward for the long term. That's why I mentioned WON's statement about
markets opening a bit low but closing higher as a bullish trend.

Perhaps what I'm seeing is the volatile action of a bottomed market making a
comeback? Time will tell I guess.  : -)

- -Bill


- ----- Original Message -----
From: "Tom Worley" <stkguru@bellsouth.net>
To: <canslim@lists.xmission.com>
Sent: Thursday, October 17, 2002 8:02 PM
Subject: Re: [CANSLIM] Action mostly at open...Inst. buying?


> and also triggered lots of action once they opened the day after news
> following a market close.
>
> ----- Original Message -----
> From: "Patrick Wahl" <pjwahl@attbi.com>
> To: <canslim@lists.xmission.com>
> Sent: Thursday, October 17, 2002 3:01 PM
> Subject: Re: [CANSLIM] Action mostly at open...Inst. buying?
>
>
> Its from after hours earnings releases that were bad (INTC) and good
(IBM),
> among
> others, which triggered a bunch of selling and buying after hours and also
> in the
> morning before the open.
>
> On 17 Oct 2002 at 11:38, btriffet@earthlink.net wrote:
>
> > I'm looking at the 5day charts of both the Naz and the DJ30. They both
> have 3
> > big gap ups one gap down and a non for the holiday. Is this the result
of
> large
> > instiutions working mostly after hours, computerized morning orders?
>
>
>
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