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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: Cornstock who wrote (6438)	10/27/1997 5:51:00 PM
From: Instock	Read Replies (1) \| Respond to of 79449

I have been listening to several News programs, including CNBC. Although the Markets big drop is all the talk, I have heard much playing it down. For example, everyone is pointing out that it was only a 7% decline and that it hardly ranks in the list of Big % drops. Oct 87 was something like 22% drop. I have heard many interviews with people talking about how sound the US economy is. Low interest rates, dropping Fed. deficit, Rising home sales, low inflation, etc... Also, look at the short term rates. The Short term T bills ( were money is rushing in to ) interest rates droped much more then the long Bond. This indicates to me that its a short term flow of cash from stocks to T Bills. Look at Gold, it dropped. Gold is suppose to be a safe haven. I really do think this is a short term drop. Probably a correction that was well over due, but short term. Thats not to say we will not see the markets dropping though out the next few weeks, but nothing on the order of today. We may even see a short term correction Up very soon. I will leave it up to the TA Pro's around here to tell us where the Markets are going, but I do not think we wil see another day like today for sometime. Heres to a better LONG day tommorow. Instock