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Strategies & Market Trends : Waiting for the big Kahuna
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To: Tom Trader who wrote (7340)10/25/1997 7:53:00 PM
From: IQBAL LATIF  Read Replies (1) of 94695
 
Tom- 6% of US corporate profits arte driven from ASEAN countries- that's about it- but amount of price stability this is going to import in US will be unbelievable- a market sitting at 946 shy by 50 poits of all time high is now being termed as a dead market- Judy has posted on INTC clarifications- ASEAN crisis if any will only be benficial to US- import prices will neutralise any upward pressures coming from tabbaco or other items- on this very thread 'inflation' has always been termed as a scourage now they have found a new demi-god of disaster the ASEAN crisis without fully realising that niether the world nor markets are coming to an end, one sign of clear stability was that last time we had this softness in Techs SP gave up sharply now SPZ and DOW both resisted the big fall a 25% drop in SOX was not anyway supported by even a 5% decline- most of these stocks are corrected 50% like AMAT or TXN or INTC look at their RSI I have never seen such a low RSI on SOXx the last time it wasa in July- so for me I am more concerned to cover my protective puts then worrying about my long positions. It took me no time to short 3 times my portfolio once I saw break in SOX- so if it is so easy to go short I think it is the shorts who will ultimately suffer the major brunt once the markets correct.Tom- it is for this reason I am long N940 puts but short in proportion 1/2 the much lower combo of mid 800's- I was worried if market opens strong on MondayI thought not to give up my pre very near to the moeny atleast the mid 800 double in qty will loose premiums equally.
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