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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures

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To: Patrick Slevin who wrote (1945)	8/17/1998 12:39:00 PM
From: Tom Trader	Read Replies (2) of 44573

>>No; I was just wondering about the amount of warning. August seems like it was the proper place to commence, as was August last year.<< I think that it took about 6-8 weeks in 87 before the crash -- I suspect that if we are in a pronounced down-trend we'll see a continued erosion in prices rather than a one day event. Got an e-mail from a contact in Malaysia who advised me that if I wanted to invest there -- that I should look to take an initial position right about now and dollar cost average over time. Between the market decline and the ringgit losing value -- that market has seen a decline of about 70% in $ terms. Am thinking about whether to do so--investment not a trade. >>It appears to me the relief rally should last a bit though, as I think the Clinton issue is temporarily factored into the market.<< I think that we could see a 50% retrace in the SPX in a rally -- and if it cannot do that I would have to say that it would almost be a confirmation of the down-trend in that market. Now what will surprise you though is that the DJIA and the SOX are on buy signals per my system--all the other indices are on a sell.

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