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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 680.44+0.6%Dec 19 4:00 PM EST

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To: Johnny Canuck who wrote (17712)9/3/1998 9:09:00 AM
From: Tom Trader  Read Replies (1) of 69155
 
Hi Harry -- a belated thanks for your response re my post to the Canadian economy and the information that you forwarded.

I have been trying to get a handle on what it is the market is discounting -- it can't be just the effects of Asia and Russia. I began to suspect that it might be Canada and Latin America -- which are major trading partners of the US. If the slow-down hits countries closer to home that the US does a lot of trade with, the earnings projections for next year may come unglued and may be that is what the market is now anticipating as it sells off.

In any event, I hope that you are holding up well with this sell-off -- I suspect that we will not see any meaningful recovery until the new year at the earliest.

Regards
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