Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: William H Huebl who wrote (7932)	10/27/1997 8:18:00 PM
From: Haim R. Branisteanu	Read Replies (3) of 94695

Hi Bill I also have support on the DOW around 7100 and SPX cash around 860. Next stop would be SPX 830. I am not sure what is happening with Japan tonight and last night they were able to turn that market around. My speculation is that Allen Greenspan got his requested "cooling" effect and will be very positive. Between the lines of some public figures, I sense that they are going to stabilize the markets as early as tommorow. The NY Federal reserve has done that in 1987 and I suspect tha tsame measures will be taken tommorow. But markets will tell us more accuratly. From watching the tape I noticed that heavy selling stopped around early afternoon, before the first close. They realy forced the market down. After the reopening of the markets around 3PM most stocks "gaped down" on realy low volune. For example, to cover some of my shorts, I neded to cover at asking prices. Same stock (which I coverd) closed 1/4 to 3/8 higher. All this on low volune. (I am speaking about stocks who trade over 1 million shares a day) This indicates NO BUYERS not heavy selling. It's smells a strong reflex rally is comming. Greenspan has done it before. BWDIK Happy Trading Haim

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