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Politics : Idea Of The Day
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To: IQBAL LATIF who wrote (19290)8/13/1998 6:16:00 PM
From: FJV  Read Replies (1) of 50167
 
IQ,

There is no one's opinion of the markets and their connection to macro events that I respect over yours. Your calls have been generally uncannily accurate. Today's action in the markets, however, has made me very nervous.

The next heavy downdraft, which will, IMHO, happen over the next few trading days, will likely take the SPX below its 200 DMA. I know that this is a technical indicator which you believe to be important. the SPX hasn't violated this level since July of 1996, when the world was a far less economically treacherous place than it is today. Perhaps your clarity of sight about world events allows you to see beyond the peril immediately in front of us. If I am way off base, please edify me. As always, I truly welcome your input of knowledge and wisdom. TIA.

Franco
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