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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: Lee who wrote (16310)	1/12/1998 8:03:00 AM
From: J.T.	Read Replies (1) \| Respond to of 50167

Lee, Molto Thanks again. Good trading today. JT

To: Lee who wrote (16310)	1/13/1998 1:25:00 AM
From: J.T.	Respond to of 50167

Lee, I am not convinced by "this snap-back" in markets one bit least on domestic or international front... Red flags are rampant, yet we fail to read their signs... or don't want to heed the warning signs...Why?? 1) Dow failed to penetrate ABOVE 7655 today interday high levels off of 7600 support inital bounce Friday before capitulating down to 7527 area before retracing to close at 7580. Can it penetrate above this level (7660 area) tomorrow?? Absolutely... In fact we may run to 7730 area before retracing.. Upside I have posted as 7850 area interday.. I will be first to admit I am wrong if this proves otherwise...SOX... what kind of rally is this... feeble as a newborn IMHO... We test 243 second time.... You know the rule ... 3 strikes and your out... We now await the beat of the drummer and INTC... As in buy on the rumor (today) and sell into the news...(or next two qtrs expected growth rate) before the bell tomorrow.. OMHO of course. Lord knows on anything short of a success and we test 63 - 64 area on INTC..... BWDIK... COMP up 4/// What kind of rally is this?? Trannies have registered a triple top IMHO, but did post nice gains today. Utilities in sypathy with "flight to quality" still too early to tell. I guess getting a 6% yield in this market looks awfuly good right now. On the international front, China down 6%, but everything else is up... I am not impressed with NIKKEI less than impressive .6% rally to 14750 area. Fact is, they are one day from taking out 5 year lows. Hong Kong has retraced the magical .618 off of yesterday close. I am impressed with Jakarta.. Korea slows down its gains til IMF realizes the "true bailout package".. This may never happen. All the local money has left the bank IMHO... BWDIK. In short... Service... Ball in play to INTC... Good night... JT