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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: HairBall who wrote (28423)	10/5/1999 2:23:00 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 99985

LG, yep...so it did. the Fed seems to want to restore it's credibility some. it's a pretty safe bet now that the ECB will tighten on Thursday. say hello to the bear market... regards, hb

To: HairBall who wrote (28423)	10/5/1999 2:57:00 PM
From: Jacob Snyder	Respond to of 99985

re the Fed: The market consensus was: no move, no change in bias. What they did was: no move, but a tightening bias. Actually, they were even more specific than that. They said, "we are going to tighten later, but not next time." And they sure aren't going to tighten a few days before 1/1/2000, so that means in early 2000. I just bought more QQQ puts, with QQQ at 124, 3 points below its all-time high. They are 3/00 expiration. Still holding all the others I bought in September. Still waiting for a 10% down move on QQQ from the 127 high. I must admit, though, that those big-cap techs are, so far, showing no weakness. Puts on any other index would have done better, over the last month.