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Pastimes : From A to Zeev" -- SI Sacks Zeev -- Ignore unavailable to you. Want to Upgrade?

To: Jyoti sharma who wrote (226)	1/31/1998 10:01:00 AM
From: Zeev Hed	Read Replies (1) \| Respond to of 708

Jyoti, after looking again at the turnips, here is what I see in general terms for the next five months: The triple top in bond was penetrated, I have no choice bu to stay with my scenario: short term another run to 6% but by June we will have seen the eyes of 5.5% and could go even lower later this year. I would guess that by the June FOM we will have a discount rate reduction by the good old AG. I also think that the Dollar is bottoming at 125 yen/dollar, and will reach 140 yen to the Dollar by mid year. If that is the case, the gold rally will burst. As for short term action in US markets, I see 7600 yielding by the Ides of march (probably 7400 to 7500) with an outside chance of retesting the October lows. The 6200 count is still there for June, but less visible, we might even avoid this. That will be clearer if wqe hold or not the October's lows. The second half still looks very strong for equities, particularly if the bond gets to the 5.5% or lower early in the second half. Zeev