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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: J.T. who wrote (2242)	1/5/2000 12:51:00 AM
From: TWICK	Read Replies (1) \| Respond to of 19219

Ouch !!! HK's Hang Seng extends losses, off 8 pct at noon HONG KONG, Jan 5 (Reuters) - Hong Kong's Hang Seng Index (^HSI - news) extended losses late on Wednesday morning, falling 8.02 percent or 1,368 points to 15,694 by noon as brokerage houses forced margin clients to sell stocks or cover their borrowings. The blue chip benchmark index then recovered slightly to trade 7.7 percent down at 15,752. 'People are selling aggressively since many of them still have good gains at these levels,' said Alan Pau, associate director at South China Securities. Since its rally started on October 21, the Hang Seng Index had risen more than 43 percent to an all-time high of 17,426.16 set on Monday. Margin calls accelerated the morning fall, Pau said. Futures <0#HSI:> were trading at a discount to the cash market, with the January contract down 1,270 points at 15,730.

To: J.T. who wrote (2242)	1/5/2000 6:33:00 AM
From: fut_trade	Respond to of 19219

...It was SPX 1,460 That was where the trendline was in Nov 1999. When I was extending the data back to 1880, I notice now that the trendline got slightly adjusted and the same Nov 1999 limit is now about 1470. The difference is really insignificant given the length of extrapolation over decades of SPX data. I didn't have confidence in such a long-term trendline back in November, but I now believe it is meaningful, and the slope of the trendline expresses the long-term growth-rate of leading industries in a free-market economy. I now question whether the internet will lead to a total change in historical, industrial-growth trends. I think the historical limits of growth will continue to be followed and the trendlines extending back decades will continue to be approximately valid and useful to follow.