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Strategies & Market Trends : Tech Stock Options
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To: Kevin who wrote (28163)11/11/1997 1:31:00 PM
From: ViperChick Secret Agent 006.9  Read Replies (1) of 58727
 
Kevin. I have another question for you. Ike has repeatedly indicated what the S&P "SHOULD" be at given a certain point in the Dow...I cant find a better example of what I am talking about at the moment other than this post...look towards the bottom. Obviously he meant "927" not "827". So do you have a correlation with what the S&P "SHOULD" be at.....and how does one come up really with the "SHOULD"

Thanks

Edit:...I think he is meaning where the S&P should be given the Dow (because of previous posts)...but i just reread this and maybe you could take it as where it should be with the bonds..i am not sure.

To: +Bo surfs (13952 )
From: +IQBAL LATIF
Tuesday, Nov 11 1997 2:41AM EST
Reply #13954 of 13980

I think if you really want to pin the reason of so much pessimism it all stems from all
kind of scnerios being painted- voltality is high and Techs are being batterred however
the overall market needs to break this 910 support even to suspect we are going to see
a double bottom or a low at 6900 intraday- for marketr to go thru that we need a
major change in interest rates earning prospects or Fed Policy on none of these counts
I see a major change ensuing- it is about market getting somekind of reassurance on
capital adequacy of foreign banks moreover some confidence that Japanese have
found a bottom and will rebound from there- this is not the first time SOX has been
battered the last July 96 it went as low as 139 and since five months we have seen a
consolidated run- Tech has lost appeal for investors I think that may be the case but if
this market needs to break further you will notice Tranportation Banks Drugs and Oils
to take out their 20 Days MA- if that happpens and you need to be very very nimble
you can go for some protective action. I will strictly play by what for me are the rigours
of this trade- first not to panic and second to observe the test of 910- before we talk
about this bear market why not to take a minute and see where we stand. Normally
S&P should already be at 890 not 827- for me bonds will soon give up alongwith that
will come a better visiblity.
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