July 30, 2004

We closed yesterday with a very weak cumulative NYSE TICK daily value of -1561, one of the lowest values of the past year. Indeed, since July, 2003, we have had only 19 days where the cumulative TICK value was under -1000. Two days later, the S&P 500 Index (SPY) was up 10 times, down 9, for an average gain of .01%. Clearly no edge there. ................
................

In order to avoid copyright disputes, this page is only a partial summary.