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Re: ljk post# 17303

Wednesday, 05/19/2004 4:51:34 PM

Wednesday, May 19, 2004 4:51:34 PM

Post# of 147294
ljk - from briefing.com fwiw

15:53 Nasdaq gives back day's gains; talk is profit-taking into this morning's short-covering driven rally, exacerbated by lack of liquidity

Trading desks indicating that there is no conviction to step in with bids given continued political uncertainty, as well as lack of visibility into rate picture and economic impact of sharply higher oil prices. Institutions also focusing on the poor historical performance of equities during the summer months, which is leaving many accounts shackled to the sidelines.

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