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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: Cynic 2005 who wrote (17847)	9/26/1999 5:24:00 PM
From: Cynic 2005	Respond to of 18056

Some nonsense about tech stocks: CSCO, Intel and AMAT are the main 3 among the prominent 'real' companies who have made new highs during the latest highs (2890+) set by DUNG. Interestingly, as of last Friday's close all 3 are testing the previous break-out point (Intel ~75, Cisco 71, AMAT 69 15/16). They are within 1 or 2 points of that level. If they fail this test, DUNG will get a quick 10% hair-cut within 3-4 trading days. (My definition of a failed test for these 3 is a 3+ point close for 2 days in a row.)

To: Cynic 2005 who wrote (17847)	9/26/1999 9:53:00 PM
From: Cynic 2005	Read Replies (1) \| Respond to of 18056

As I expected, the G-7 tea party did not produce anything concrete. They all spent thousands of dollars in air tickets and hotel stays to say that they are "concerned about yen." Gee, all of us must be relieved now! -g- My speculation is that a lot of people in the forex markets are waiting for the great time they are going to 'intervene' so that they can: 1. liquidate $ denominated assets and convert them to yen; and 2. short $/yen at higher levels. Another thing that noticed in the G7 statement is that the US will try to boost personal savings rate in the US! Aa haa? How are they going to do that? Boost rates? Some soliloqy: on Developments and expectations for this coming week - after this "important" G7 tea party: They are running the buy stop orders on the Yen/$ which is giving some lift to Nikkei. I think (hope?) it will not last. The psychological indicators I have seen over the weekend all point towards a nasty fall towards the early part of this week. (cliche - BWTFDIK?) 1. Nobody on the financial shows is expecting the selloff to continue. 2. I am a scared bear - not a confident one. My expectations have turned very modest after the last week selloff has nothing to show for me (in terms of gains) 3. MOst important of all - the Myth thread saw absolutely no interest over the weekend. This has to be one of the slowest weekend the thread has seen in a while. It is interesting form the point of view that it was after a week DOW has dropped more than 500 and DUNG about 130! Go figure. As I type this, the spoos are up 9 and the buck is up 1.6 yen, NEKKEI is up 160. Things can change in a very short order. I am not just hoping, but I am expecting them to!! Fingers crossed! Chart Reminder: 50 DMA Just met 200 DMA from above on FTSE. FOr SPX and BKX 50 DMA is already lower than the 200 dma. The DOW is the only index that appears to be stopping a carnage! Can it? We will see!! quote.yahoo.com^FTSE+^spx+^bkx+^dji&d=2ym