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Strategies & Market Trends : The OEX... gasp!
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To: The Jedi who wrote (569)2/25/1997 12:43:00 AM
From: The Jedi   of 658
 
Well what a day. We are making history. Like I said on Friday to bounce back the Dow needs the techs and the financials to lead. Well that is exactly what happened. IBM and Intel are back in the saddle. The good strong 6 point rise makes me believe that we are in an uptrend, and this is not a fake. But if we take out the previous high (not too far off) we should be. If OEX crosses the 802 mark then we are definetly going forward. CNBC reported that Greenspan is to speak this Wed and the next Wed not this Thurs as originally planned. Can anybody confirm this. This may change things a bit. It would be highly unlikely for Greenspan to upset the market in his first speach and then have to come back next week to explain to the committe what he meant. The text of his speach does not suggest so. No inflationary pressure seen yet. So the only course the DJIA and OEX have is up for the short term. What scares me is that everybody is expecting a correction soon (puts are so overvalued) and it may never happen as a quick decline. Lot of explanations are given in the historic context that this market is overvalued (probably is) but we never had such a situation in history. Well meantime keep buying protective puts as the market keeps going up.

Anybody using an OEX trading system to do postion trades such as 40 in 4 or any other do tell us how it has fared since January. Has it been able to correctly indicate in advance the market turns. If yes with what certainty (probability) then we would like to try it too. No blatant advertiement please.

Kiri
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