Head Fake Sets Up Naz

August 10, 2001
Dave Landry

Each evening we
focus on the most interesting aspects for the upcoming
trading day. The comments are based on observations of the
nightly updates of the Futures and Market Bias pages. They
are provided for educational purposes only and are not
intended to be direct trading advice. Also, keep in mind
that these remarks are made up to 12 hours in advance of the
markets opening. Therefore, overnight events may alter the
outcome of these observations.

The September Nasdaq futures
(
NDU1 |
Quote |
Chart |
News |
PowerRating) sold off hard early in the day but
reversed to close well. This may have trapped breakout players on the wrong side
of the market (see tonight’s Stock Outlook for more details). Look for a buying
opportunity here.