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Technology Stocks : MSFT Internet Explorer vs. NSCP Navigator
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To: Bill Harmond who wrote (340)7/20/1996 11:23:00 PM
From: Curly Q   of 24154
 
The bond market looks better now than it did on the July 5 plunge. On the abbreviated day after Independence Day, the employment statistics catalyzed a plunge from around 109 to around 106 on the CBT Sep US Bond futures contract.

Friday, holders of Sep US 109 Calls didn't abandon automatic exercise of the (slightly) in the money positions, willing to be long the futures at 109 coming in Monday morning.

If the bond market doesn't follow through with that July 5 collapse, from which level it has already mostly recovered, the sell off may be seen in the rear-view mirror as having been a buying opportunity. Inflation fears certainly don't seem to be taken seriously, even with the high grain prices. Silver had its biggest one day plunge in 16 months this week, from a level already down 90% from its giddy Jan 1980 high.

Also, the newspapers were carrying articles this week advising people to get out of the market if they needed the cash short term, but to stay in if they are in for the long term. That may be viewed as a contrary indicator; an immediate buy signal.

And what to make of the Nasdaq making records for movements - in both directions - in such a short span. As usual, it seems like confusion reigns!
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