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Strategies & Market Trends : January Effect 2003 -- Ignore unavailable to you. Want to Upgrade?

To: Londo who wrote (353)	4/22/2003 4:17:55 AM
From: Londo	Read Replies (1) \| Respond to of 666

Second strategy of the day: Bought an HSI future at 8512 (6 seconds before the close of trading). Looking for 300 points up to 8812, 200 points down to 8312, or cash settlement (last day of trading = April 29th), whichever comes first. The fact is that the S&P is still on a tear upwards, and there needs to be more hype priced into the index. Combine that with any possible event risk of a SARS related thing (e.g. proper diagnosis, cure, or whatever), and you have the possibility of a potential rise of 3-4% in the index before it'll continue its natural trend down (deflation and all). The HK economy sucks crap right now, so I'm playing a transient, not a steady state play right now. 3.5% on the Hang Seng is 300 points - this is my target. It would have been easier to reach if my entry had been better timed, but I'm not too concerned. I also like how the future traded down 20 points in the last 10 minutes of trading - shows that traders were fearful and were taking profits on the 80 points they earned from the bottom that day. I've got an order to go long the S&P at 886.