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

To: Doug R who wrote (6836)	10/31/1997 1:26:00 PM
From: ted birnbaum	Read Replies (1) \| Respond to of 79449

Doug, Any chance of a reverse 56 thread ? I think the time might be right for a few shorts to hedge the longs ?

To: Doug R who wrote (6836)	11/1/1997 5:50:00 AM
From: Tenpole	Read Replies (1) \| Respond to of 79449

Doug, It appears that, while he thinks the DOW is showing a weak buy signal at present (but out of synch with the S&P), he thinks the FTSE (which is currently 4842) will retrace to 4200 after testing the low of last week of 4385 (he called the 5365 high to within 2 points so I'm listening to him!). Probably the biggest note of concern for him is the way in which the US markets have reponded to this weeks events (ie 'it's all over now...'). I have looked at some FTSE put prices - guess what: the 4400 contracts for November have tripled in price over the last 3 weeks and the December contracts are hideously expensive. I'm going to have some of both. Tenpole