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Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?

To: donald sew who wrote (31672)	12/20/1997 9:22:00 AM
From: donald sew	Read Replies (1) \| Respond to of 58727

INDEX UPDATE --------------------------------- What many do not realise, especially the media, is that the short-term technicals on many of the foreign markets were overbought previously and were already on the downside bias. I am not discounting the bad news from Japan and Korea, but tied together with an overbought market there will be strong declines. None of the Asian markets have set new lows, although the N225(Japan) is close to the 52 week bottom. The Korean market has more room to the bottom. The Korean and Taiwan markets are the only 2 Asian markets open this morning and Korea was up .80% and Taiwan was up .76%. Per my short-term analysis the N225(JAPAN) and the HSI(HONG KONG) are CLASS 1 BUY's to be purchased at Sunday's low(our time). In all of the excitment yesterday with our domestic markets, I should have bought the HSI options, on Friday, when our market was down hard. As our market rebounded the HSI calls would have probably also appreciated even with the Hong Kong market closed. The HSI would not have appreciated as fast as our domestic markets, so getting the low price for the day would have been easier since there would have been more time. With the Korean market up slightly after a real bad Friday, it appears that it will also be up tomorrow. Well lets hope the CLASS 1 BUYS on the HSI and N225 work, and Korea follows - if so that would be a very strong help to continue/maximize the reversal process in our markets which started Friday. Well the XMAS rally appears to be active again. Happy trading and happy holidays Donald