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Strategies & Market Trends : Asia Forum

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To: Worswick who wrote (2682)	3/17/1998 5:10:00 PM
From: Worswick	Read Replies (2) of 9980

From Barton.... technical analysis of the Asia markets: For private use only (C) Barton DANGER BELOW: FLYING BROKERS AND BANKERS AND BUREACRATS 16th March: So the government is giving money away? According to news reports, the Japanese government is determined to push the index up to the window dressing level of 18,000 by the end of this month. It looks cunning in a way. 18,000 would break through the neckline of our patterns pointing to 20,000. But one must be very suspicious of such follies. Governments can't support markets for long. The whole thing could about face and collapse. It could be a good time to offload stock. Check out the long term picture of the fund chart, which last week gave the first confirmation of the long term gloom scenario. It shows an impending fifty percent fall. ...The bad news is that the Japan fund indicates a series of falls amounting to a loss of 50% of the value of the fund. Unless this breakout fails, it can be taken as confirmation of the gloom target of 8,000. There is still uncertainty in that regard. The Japanese government's decision to inject money into the stock market will do no more than distort the picture for a while.

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