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

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To: Tom Trader who wrote (2820)	8/31/1998 10:56:00 AM
From: j g cordes	Read Replies (2) of 44573

I feel the most important event last night was Japan holding.. its market is critical and hopefully they will keep it going for a few days despite whatever happens in Russia. I think the Chinese are trying to set up the Hong Kong speculators for a drubbing, they stopped buying last night which let things fall. When the shorts are saturated, they'll try and force a covering rally to squeeze them.. to do this right they shouldn't intervene tonight either but let the market find a solid intervention level. Don't know if it will work for long, but I feel that's what's afoot. I find the President's task nearly impossible as he's making a state visit to Chaosland from Retribution City. IF, a big if, something substantial comes out of it, his confidence levels will bounce as a world leader... Consider that Kohl will probably be out in Germany for the next election, the Japanese Obuchi is seen as uninspiring and willing to take action, Russia is despondent and the US can't get over its soap opera... There's a pronounced head of state leadership in the world. Nature won't allow a negative space to exist for long, politics is the same. These next weeks might be the most proclamative in recent history as solutions spout from every corner of the globe. I will be most interested in which arguments actually begin to reverse sentiment and which get left behind. Jim

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