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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked
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To: Parnell who wrote (13572)2/17/1999 11:22:00 PM
From: Maarten Z  Read Replies (2) of 90042
 
Hey thoughts for tomorrow?

Alot of doom and gloom today.

Yes Tim is gone - for now.
And he will be missed but I will bet he'll be back.
Lets pray for him and his family and wish him the best.

But the show must gone on.

Cannot see much that would cause a strong opening
No earnings released tonite by a market leader to give a push.
Cannot find any news of any substance since the close.

And as the market tanked in general at the end today, I think
it can be safe to say that futures tonite and in the a.m. will be at a significant discount to fair market value and the market as a whole (and NASDAQ in particular)
will open lower. MY guess for the NAZ would be 20 -30 points.
My first estimate was much lower but I think the market is directionless right now - anything can be come a catalyst to a major
move in either direction.

But what? Some economic indicators out tomorrow.
Initial jobless claims @ 8
PPI @ 8.30

Though I doubt either will vary much from last release.

ASian markets should trend down after our day. And even if Japan
were to close higher I doubt that would effect our condition.

The best thing IMHO is to see a significant selloff at the open. Get this
"correction" over so to speak.
Frankly that is what I am hoping for because I will be buying for
sure. Dont know if Ill be holding past lunch but for sure there
will be some good day trading plays out there.

If buying momemtum keeps going that could turn the market around.

Otherwise is going to be choppy for a while.

Any thoughts out there?

GOOD TRADING
MZ
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