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Strategies & Market Trends : Tech Stock Options
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To: ViperChick Secret Agent 006.9 who wrote (45612)6/12/1998 1:04:00 AM
From: Gersh Avery  Read Replies (1) of 58727
 
Lisa .. I'll try to give you a currency recap of today.

The yen lost value compared to the dollar last night. Folks in Japan, for fear and greed, looked for someplace safe to put their stored wealth .. tada-> good ole' US bonds .. but the stocks here in the US don't look so good so they stay away from them. As a matter of fact they even pull a little of their US stock investment out. Which helped with the downturn toward the close.

This sharp inflow into bonds would have had an overflow into stocks except for one thing ::: the Fed had drained overnight. I keep forgetting this overnight stuff.

Tuesday .. 5 day trin sell signal .. funds have only ~4% cash left .. fed drained .. market went up .. then I read Nemers post about what to tell the wife .. halfway through the read my wife comes in and asks me how I'm doing ..

First I broke TV set .. then went to look for day job.

Then Mr market reminded me of things like days of settlement, overnight action .. etc.

Now, today I'm trying to figure out what the fed did. I call my broker and ask him for a fed funds index .. guess what .. he said he can't help me .. says to watch CNBC.

Yahoo does a very poor job of posting such things.

Oh well maybe I can get it fixed.

So tonight .. it looks to me like folks overseas have decided that the USD is not worth quite as much. Should lead to the bonds pulling back just a little and perhaps a little more afternoon stock selling.

If stocks continue down from the open US and European investors may pull cash from stocks and buy bonds as a replacement.

Gersh
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