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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Don Pueblo who wrote (9423)	11/9/1997 8:00:00 PM
From: Elllk	Read Replies (1) \| Respond to of 94695

Well TLC, at 7:55 est Japan has moved to the plus side by 0.13% and South Korea is up 2.50% but South Korea was up over 4% and is now fading fast it seems while Japan is probably temporarily heartened by the rally in South Korea---counting their chickens before they've hatched, so to speak. But I have a feeling we have a batter in there at the full count who is going to foul off 8 or 9 in a row before we're through so it doesn't matter who wins we're going to be dead from heart attacks anyway. Larry

To: Don Pueblo who wrote (9423)	11/9/1997 9:05:00 PM
From: Tommaso	Read Replies (1) \| Respond to of 94695

"It's 2 strikes, 3 balls, and the bases are loaded... is it down for the count? Who is holding all the aces? Who is in the driver's seat? Do we have both oars in the water? Are we going for the homestretch?" Or maybe the camel has its nose under the Coleman tent. It does not appear like a big slide developing for Monday at this point.

To: Don Pueblo who wrote (9423)	11/9/1997 9:09:00 PM
From: Tommaso	Read Replies (1) \| Respond to of 94695

On the other hand....Hong Kong down 2% in about four minutes.

To: Don Pueblo who wrote (9423)	11/10/1997 4:26:00 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 94695

This is what market will probably look like- my dear dear TLC Last night Nekkei and HSI both remaining in negative territory for most of the day closed below critical 16000 and 10000 levels but intrestingly they came off the intra-day lows very nicely- today being a holiday in France we will see UK stabilising just been hit with a 1/4 percent higher rates and in US I will assume that despite of globex suggestions we will remain bound btw 928-38 range a break of 938 can lead to retest and thorough probe of 942 and if Brazilian package restores confidnece in Brazil we may see a slight probe of 948-52 area- Amidst yesterday doom and gloom it is nice to see that my view of the market finding stability here is gaing ascendancy - for me we are at a level where we have been before at 7600 thrice and rebonded from here - for me the break to 6900 was an event of default- no one sold anything neither anyone was able to buy- at 6900 market had more buyers then sellers- the bears make a point that there will be times in market where to sell to who? will be an issue the last time we had test of lows it was buy from who? Last night on big Kahuna I was asked what will make you negative on the market- I know how costly it is to short this market - and so much blood has been drawn from shorts and so amny levels have been probed that market is legitimately sitting to take off from here - the first test will be 7800- the most interesting again unnoticed by the self styled gurus is S&P divergence of 40 points here= last time DOW was at 7600 S&P was at 890-95 level- why it is testing much higher levels corresponding to DOWs 7800?- Tech is the answer although below highs of 402 SOX is at 307 last time DOW hit 7600 SOX and MS tecj index was as low as 255, now the investors in Tech despite of this correction are sitting on a decent return- for me it is going to be a retest of 320 on SOX alongwith 850-55 area on S&P and 7800 on DOW this will correspond with Nekkei taking out 16000 HSI 10800 Bovespa regaining it lost ground and Bonds back to 117 in first step- these various factors will then signal a further move up at the moment lets see how events unfold. I see that a strong bounce in South Korea and Taiwan although unnoticed is good signal for ASEAN markets- the 5 chaebols in South Korea are under liquidations and it was generally being expected that Korea will take a lot more flak last night- In my opinion these markets have started finding some support at these levels and in all likely hood Dow will not break the 7500 resistance rather 7575 until Latin America Brazil slips again- there is some talks from J.Sachs asking devaluation of REAL by 20% perhaps without government realisation we have seen that much or even a greater anticipation already built in the market valuations- I will also expect todays Brazilian package to be positive for the market- I expect the recovery to take a bit longer but consolidation has already begin - towards the middle of the week I will add to positions on March Nekkei JPN index TBR calls and HK tel- Looking forward I see some steady stability -Bonds will test soon 117 once again and will find support intermidiate at levels of 116,14- some Jan puts on Bonds can be interesting. \| Previous \| Next \| Respond \|