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Strategies & Market Trends : InvestRight - Short Term Trading St

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To: ColleenB who wrote (279)	10/2/1998 9:03:00 AM
From: Jeffrey L. Henken	Read Replies (1) of 939

Thursday October 1 4:56 PM EDT Stocks Fall Sharply, Dow Industrials Off 210 NEW YORK (Reuters) - Stocks skidded for the second straight session Thursday as investors feared the global economy was being tipped into recession. The Dow Jones industrial average fell 210.09 points, or 2.7 percent, to 7,632.53, starting the fourth quarter in the same fashion it ended the third. The Dow fell 238 points Wednesday. Investors' worries grew that last week's near-collapse of the Long Term Capital Management investment fund may just be the first. Federal Reserve Chairman Alan Greenspan failed to soothe those worries in testimony on so-called hedge funds to Congress. ''Today's 'fear de jour' is hedge fund exposure against a backdrop of global economic slowdown,'' said Arthur Hogan, chief market analyst at Jefferies & Co. ''We are also walking into an earnings reporting season that we know is going to be disappointing.'' In the broader market, losers led gainers by a 3-1 margin on heavy volume of about 890 million shares on the New York Stock Exchange. In percentage terms, however, the sell-off did not make the top 10 and still leaves the Dow more than 200 points above its lows hit at the end of an August rout. dailynews.yahoo.com I hope we don't test the lows for the DOW this month but I fear we will. Regards, Jeff

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