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Pastimes : The Naked Truth - Big Kahuna a Myth

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To: bill meehan who wrote (53565)7/28/1999 4:41:00 PM
From: John Pitera  Read Replies (3) of 86076
 
Bill, I notice that 2.80 premium on the spoos is almost identical to yesterday. Today's trading looks like a fractal duplicate of
yesterday. This rally off of Monday's lows is a textbook a-b-c correction it appears.
The USD and the bonds look like they can both weaken and conspire to pull the rug out
under it.

I see major currency and bond market volatility(possibly foreign bond mkts)
occurring over the next 24-48 hours. I would not even rule out a Yuan devaluation.

A great night to be long vollies on currency option plays. -ng-

John
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