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

To: pater tenebrarum who wrote (36638)	1/4/2000 8:38:00 PM
From: Don Green	Read Replies (2) \| Respond to of 99985

Stocks Open Sharply Down On NY Selloff; Sony Ask-Only Wednesday, January 5, 2000 TOKYO (Dow Jones)--Japan's benchmark Nikkei stock average has opened sharply lower Wednesday following the steep selloff in New York overnight. At 0023 GMT (7:23 p.m. EST Tuesday), the Nikkei Stock Average of 225 selected issues was down 269.31 points, or 1.4%, at 18733.55 in its first full-day session of the year. The near-term March Nikkei futures contract was trading at 18500, down 480 points on the Osaka Securities Exchange. In New York Tuesday, the Dow Jones Industrial Average tumbled 359.58 to 10997.93, its fourth-worst point loss ever amid worries about higher interest rates. The technology-rich Nasdaq Composite Index surrendered 229.46 points to 3901.69, its worst point loss and eighth-worst percentage decline. Kazunori Jinnai, deputy general manager at Daiwa Securities SB Capital Markets, said the Nikkei could fall as far as 18,500 Wednesday. High-technology as well as information and telecommunication shares are sharply lower. Sony is ask-only at 29,800 yen after closing at 30,700 yen Tuesday, up 400 yen. Toshiba has lost 11 yen to 807 yen and Matsushita Electric Industrial is off 135 yen at 2770 yen. NTT is 60,000 yen lower at 1.73 million yen. NTT DoCoMo is ask-only at 3.65 million yen, after closing at 3.95 million yen Tuesday, up 20,000 yen. Bucking the trend, Daiei, the most actively traded issue so far on the Tokyo Stock Exchange's First Section, is up 34 yen at 519 yen on volume of 5.85 million shares.

To: pater tenebrarum who wrote (36638)	1/5/2000 1:21:00 AM
From: Cathedra	Read Replies (1) \| Respond to of 99985

heinz, if you just looked at today's put/call ratio, you would never have known we had a mini-crash. There was incremental improvement in the overall p/c ratio, but far from panic proportion. And the total OEX options volume was pathetic! VIX was about the only indicator that showed fear in this market. So, I agree that there is still too much complacency and we are quite a ways away from a solid bottom, one from which the market can consolidate and launch the next bull move.