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To: Patrick Slevin who wrote (9513)11/9/1997 10:55:00 PM
From: Alias Shrugged  Read Replies (1) | Respond to of 17305
 
Nice chart - scary, but nice.

Their is nothing wrong with moving to the side and letting the market show us which way it is moving. I see no complelling arguments for the long side of this market.

When you have a moment, explain how trading in currencies impacts the market.

Good trading,

Mike



To: Patrick Slevin who wrote (9513)11/10/1997 7:19:00 AM
From: Robert F. Newton  Read Replies (1) | Respond to of 17305
 
Hey Pat: This might be the fake rally you're looking for.

GLOBEX PRICES AS OF 11/10/97 06:10 AM TRADE DATE: 11/10/97

CONTRACT LAST NET CHGE CONTRACT LAST NET CHGE
EURO $ DEC97 94.18 -2.5 MEX TIIE DEC97 80.50P ----
MAR98 94.14 -3 J-YEN DEC97 8102 +10
JUN98 94.085 -3 B-POUND DEC97 1.6786A -118
SEP98 94.015 -3.5 D-MARK DEC97 .5836 -38
DEC98 93.92A -3 SWISS FR DEC97 .7182A -38
MAR99 93.91A -3 CAND $ DEC97 .7115 +9
LIBOR DEC97 94.155A -2 AUST $ DEC97 .6962 +24
JAN98 94.29A -1 F-FRANC DEC97 .17530P ----
S&P 500 DEC97 939.00 +770 M-PESO DEC97 .117400P ----
E-MINI DEC97 938.25 +700 REAL DEC97 .88100P ----
MAR98 946.00B +500 RAND FUT DEC97 .204675P ----
NSDQ100 DEC97 1049.00 +1250 KIWI FUT DEC97 .6235P ----
GSCI DEC97 205.00P ---- BP/DM DEC97 2.8778P ----
MEX CETE DEC97 78.40P ---- DM/JY DEC97 72.590P ----



To: Patrick Slevin who wrote (9513)11/10/1997 12:35:00 PM
From: Trader X  Read Replies (1) | Respond to of 17305
 
Pat, comparing '29 to '97.

It should be noted that in the comparision, the market went up by a ratio of 3.12:1 in the period up to 1929, whereas the recent market climb has been 2.5:1. So while the chart makes the two periods LOOK identical, they are actually off by a whooping 25% in actual point rise ratios.

Just the facts, m'am.


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