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Strategies & Market Trends : The OEX... gasp!
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To: Mike Scott who wrote (455)1/27/1997 7:08:00 PM
From: Stuart Briscoe   of 658
 
Mike, if the economic news is market-friendly and the bonds don't deteriorate any further, you might have a chance to sell your calls at a better price than you've seen lately. It is still very likely that the market could go down further. If the ECI shows wage inflation tomorrow, look for a further sell off and for the bonds to break through 7% yields. At best, the market will get very oversold quickly and we could have a rebound by later in the week. At worst we will see the DOW test the 6100 level for support.
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