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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: Cynic 2005 who wrote (7804)	11/13/1997 3:58:00 PM
From: Joseph G.	Read Replies (1) \| Respond to of 18056

Mohan, I donow. But I saw from ~1 to 1:20, when market really started to dive, SPX futures traded at ~$3 or 4 premium to "fair", and just sat pretty flat, when other indexes tanked. Don't know who was buying, but there was some. Other observations - volume surges on way down, up is small volume on many small trades, predominantly. So, my feeling is, still mostly suckers/bottom guessers are buying (except for that solid buying at 1). Joe

To: Cynic 2005 who wrote (7804)	11/14/1997 12:16:00 AM
From: Sunny Jim	Read Replies (3) \| Respond to of 18056

<The moment long bond yield closes below 6% "in a hurry", the stock take a tumble!> When the long bond was pushing 7% a while back, everyone said that as soon as the long bond went over 7%, the stock market was in for a real correction. Now the long bond is approaching 6% and you predict that as soon as it drops below 6%, the market will tumble. I understand why high rates put pressure on stocks, but can you explain why low rates will put pressure on stocks?