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Strategies & Market Trends : Canadian Options

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To: Porter Davis who wrote (577)	6/17/1997 5:00:00 PM
From: Jan Johnstone	of 1599

I agree a June Swoon is likely, but the ideal economic conditions in the US will allow catch up for TSE, ie. steady Fed. We may see a 5%-7% retracement, but TSE is headed higher(I didn't think so a month ago). Can't be so sure about the DOW, the P/E multiples using forward earnings are getting scary. I'd be more inclined to go short on OEX than TXO. I see any weakness in NTL/BCE as being temporary. Sure they've had a decent run, but NTL is a still a real gem. BCE may retreat to $36, but it's heading to $50, on the back of NTL. Sorry to hear about the doom and gloom with TSE options trading. I think most of us feel helpless, and are going with the flow. The TSE has a monopoly in the trading of the major optionable equities in Canada. The hope is that Fleming has enough egg on his face, and can't afford more screwups. At least your computer is up and running, that's minor solace. Cheers !! Jan

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