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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 659.00

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Nov 21 4:00 PM EST

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To: Temple Williams who wrote (16220)	5/31/1998 10:35:00 AM
From: j g cordes	Read Replies (1) of 68225

I was trading in '87.. and had puts going into Monday taken the week before. It "felt" like something was going to happen, especially as dollar/currency talk became very confusing. As I recall, none of us expected such short term dramatic moves to the downside, I sold well before the bottom and even took a few long positions assuming that while it was a crushing move a rebound would occur. I was fortunate to have not been whip sawed too much. Recently the currency woes in SEAsia, Hong Kong, SKorea, Indonesia and Japan have shown the necessity of keeping an eye on currencies when evaluating a market. This applies, of course, to our market as well.

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