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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 695.17

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To: space cadet who wrote (18016)	10/13/1998 11:50:00 AM
From: Clint E.	Read Replies (1) of 69681

Hi Space Cadet. No, I don't trade options on the indices. I imagine someone like Tom Trader would. Since the macro picture has not drastically changed, you will most probably get your chance to re-enter into your favorite tech issues. By the time we approach the end of OCT, the fear of last OCT. 27th. crash will creep back in. Will it take us all the way down to Favors' target? I don't think so but a re-test of 7400 between now and then is very possible. If we keep hearning about a pre-FOMC rate cut and don't get it, we could quickly sell off. I hate it when the stock market sets itself up for disappointment. Interesting how Bank & Brokerage stocks are doing well today, even after reporting sharply lower earnings. MER, JPM, & LEH are actually up. CRaP is MER's savior. Clint

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