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Strategies & Market Trends : Tech Stock Options
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To: donald sew who wrote (26752)10/23/1997 3:46:00 PM
From: Tom Trader  Read Replies (2) of 58727
 
Don--I think we have a mixed picture as to the outlook for the market in the immediate future, though the longer term trend is still up:

I am not sure that interest rates will be the determinant for the immediate market direction--otherwise today the market would have been up strongly today.

The over-flow of the impact of the decline in the Asian/European markets must have some influence on the US equities. If you are right that we have seen the lows in the HK and MAS markets then I am sure that we'll see the US equities rally.

I agree with you re the probability that Greenspan will not raise rates given the turmoil in the markets.

Technically I am concerned about the lack of follow through on rallies and unless this is resolved soon, I suspect that the markets will decline further.

Do you see the Class 1 buys on the Asian markets as being indicative of a final bottom or the basis for a rally before another decline? I am trying to understand the nature of the signal that your system generates.
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