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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 687.57

+0.7%

Dec 10 4:00 PM EST

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To: bobferg who wrote (17976)	10/10/1998 3:41:00 PM
From: Iris Shih	Read Replies (1) of 68959

Hi Bob, Thanks for your reply. The weak dollar definitely will help those multinationals eventually. But on the other hand, the weaker dollar might stoke fear of higher inflation, since it will make import goods more expensive. Future growth for US corporation might not be as robust as past, but it doesn't point to that US economy is on the brink of recession. Under this circumstances, will Greenspan rush to lower interest rate? Market reversed last Thursday based on the rumor that Greenspan would cut rates sooner and more aggressively. If we don't get it next week, what will the market react? Also we still don't know how many positions hedge funds besides Tiger Management & LTC need to unwind. We don't know when the selling will resume. It is another dark cloud cast over the market. Another question bothers me is that Russell 2000 has broken its long-term trendline. If small cap index is a leading indicator of the market, can dow survive? I have only been in the market for 3 years so I don't know how bearish it would be. Iris

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