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Strategies & Market Trends : Tech Stock Options
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To: Electric who wrote (26670)10/23/1997 9:34:00 AM
From: ViperChick Secret Agent 006.9  Read Replies (1) of 58727
 
Mark haines is trying to calm people

"as you see the dow go down it is not increased panic..it is just stocks opening in rotation...." or something like that

from kevin:

Hi everyone. Interesting news overnight.
IMO, this will be a knee-jerk reaction for US stocks but you need to
be patient. Apparently, investors around the world get a tad
frigthened when they see a market fall 10+%. But I really can't find
any reason WHY we'll stay lower after the reaction is over. I read an
interesting comment from a fund manager this morning: "Is Hong Kong
really that important to US investors? The Japanese market's been in
a bear market all year". He's absolutely right.

I wouldn't rush in and take opps in the first half hour because I'm
not sure we'll bounce that fast. Euro markets have fallen 3-4% and I
don't see wy we should be much different. Their bonds raliied and so
have ours, but this doesn't seem to help the equity markets. If I had
to guess, I'd say the SPX will take a trip to 945 today.

Here's my points:
SPX---
982.83
975.88
972.21
piv:968.93
965.26
961.98
955.03
Below 957.83 is a bearish signal.

SPZ---
992.85
983.9
979.1
piv:974.95
970.15
966.00
957.05

Below 963 is bearish.

Bonds are just flat out screaming and are already above all resistance
levels.

Take care, good luck, and be careful.
Kevin
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