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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 662.63

+0.4%

Nov 19 4:00 PM EST

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To: HairBall who started this subject	9/12/2001 3:43:34 AM
From: Rob S.	Read Replies (2) of 99985

I'm watching the European financial cable news network. Trading in England and other exchanges opened down - many stocks in double digits. That quickly reversed to still down but a reversal. The Swiss and Japanese banks opened up liquidity. Britain, France, Spain, etc. have indicated they will be in the market to support it. Major financial firms have stopped loaning any money to short sell stocks and that is suspected may cause some short squeeze during the next few days. Insurance companies have been hit hard. However, analysts suggest that most insurance policies have "act of terrorism" clauses that indemnify the insurance companies. That would put off the cost of the damage to the U.S. government and owners of the buildings. Individual firms may have various policies. Commentators have shifted to suggesting that the markets may turn up - saying that this has been the trend in past disasters; immediate turn down followed by buying on the expectation of increased spending and bolstering of markets. In fact as quickly as I am writing this the FTSE XETRA, MIB have turned from several percentage points down to slightly positive. This is still early in European market trading and follows the close of steep Asian market downturns. OMX is now reported up 1.5%. Euro bank has intervened. The dollar is stabilized. Shorting now = terrorism. Asian markets are still off sharply. they don't have much resolve. Asia should get with the U.S. and stop acting stupidly. Trading is highly volotile and could go either way. . .but so far financial markets look to be improving.

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