danb@tesla.UUCP (Dan Blumenthal) (03/27/86)
In article <> suhre@trwrba.UUCP (Maurice E. Suhre) writes: >In article <10053@ucla-cs.ARPA> ekrell@ucla-cs.UUCP (Eduardo Krell) writes: >>In article <202@pyramid.UUCP> dan@.UUCP (Dan Sobottka) writes: >>> >>> -expiration day for Stock Index futures AND options (like tomorrow, 'cept >>> I don't think much will happen this time) >> >>Well, the 35+ points drop in the Dow goes to show us how impredictable these >>days are. Something has to be done about this distortion in the Stock Market. >>Small investors are the ones getting hurt, as usual. > This is not obvious. Even though the Dow dropped on Friday, > the Amex and OTC indexes were up. Depends on where the > "small investors" were invested. >>-- >> Eduardo Krell UCLA Computer Science Department > >Maurice > >{decvax,sdcrdcf,ihnp4,ucbvax}!trwrb!suhre What I've heard is that the market is correcting (at least maybe until today) in sectors. It's just that the Dow was the 'sector' to go on Friday. I know it's not really a sector, but the hospital and technology stocks have been followingthis pattern so far. The prints on the tape were amazing on Friday. There were so many big blocks and the tape kept running a half hour after the close! I saw one print of 2.5 million AT&T and tons more of over 100,000. It was about 50 million in the last 15 minutes of the day. I heard one trader said that the OEX's were being sold and the XMI's were being bought. The XMI (Value Line) index was up 3 points on the day, while the Dow was down 35 points. The XMI closed up 7 points today to 336.18. while the Dow is up 32 to 1817. Weird. I don't think anyone knows what's going on.