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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 659.00

+1.0%

Nov 21 4:00 PM EST

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To: Iris Shih who wrote (18354)	11/15/1998 1:13:00 AM
From: Clint E.	Read Replies (2) of 68216

Hello Iris. I just watched last Friday's NBR program that I had taped and found out that 70% of economists expect a rate cut this Tues. Since that ratio is much higher than I had thought, there could be more downside pressure on stocks if we don't get a rate cut. It seems that WS expects one more rate cut this year so if we don't get one now and drop down to ~8600, we should still rally back on hopes of receiving one in December. If we get a rate cut on Tues., I agree with the lady(on NBR) who said there is not a whole lot of upside potential for stocks. At this point, I don't know if we get a cut or not. I don't see why we should. I am biased in thinking that we won't but I am not sure so I won't trade on that. I am not in the market right now and will stay out until Tues. As far as INTC, same as previous announcement, it is considered a safe place to park one's money. I am sure many expect that INTC has low-balled the street and there is some upside to the pre-announcement. Clint

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