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Strategies & Market Trends : Tech Stock Options

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To: Chris who wrote (32823)	1/11/1998 11:00:00 PM
From: donald sew	Read Replies (3) of 58727

Chris, HK is up for the day - same day. Most everyone else will also miss it too. If it closes down 7% the media and almost everyone else will say that it was a down day compared to the previous days close. HK gapped down 680 points and it opened at 8214 and the low so far is 8088. It is now above the opened price and the CANDLESTICK will show it as a WHITE HAMMER right now. It will be a very strong reversal signal in light of the huge RAINDROP(big gap down). So compared to the opening price - it is positive. It may not mean much to most but for technicians this is a major reversal signal. Now, the media will say it is a huge down and our market could open down, and down big. But many will not realise that the HK market actually started its reversal. Japan already started its reversal on a technical basis, but it also gapped down, probably in sympathy with the HK market. If JAPAN closes at 14877(where it opened) it will be a strong confirmation of the reversal, but most will interpret it just as a decline. Hope I explained it. Seeya

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