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

To: Zeev Hed who wrote (6453)	10/27/1997 8:53:00 PM
From: Sergio H	Read Replies (1) \| Respond to of 79270

Zeev, one thing that will provide some cushion is the record level of shorting activity on NASDAQ. I would imagine that the shorts will start covering tomorrow some time and give us either the dead cat bounce or an honest rally. Comparisons made to 1929 are not without merit. The 29 crash was caused mostly by the belief that the industrial revolution was without limit. Unfortunatly, the industrial revolution spread too fast and there weren't enough buyers. We're seeing the same thing with the high tech revolution. Not everyone in China is shopping for a lap-top and not everyone in Russia is concidering what Internet provider to use. Your points about the inflationary pressures that the Asian situation is causing will need to be addressed by Greenspan if the market is going to resume its upward bias, even if it is only a temporary move. Sergio