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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Clint E. who wrote (16584)	6/15/1998 3:13:00 PM
From: j g cordes	Respond to of 69161

More important to me than Dow 8700 is the SPindex holding 1083-5 area on close... intraday below is ok. Just had a thought, if Asian buyers feel their currencies will continue to slip, they'd be wise to make as many big purchases now locking in better exchange rates. Maybe the semi's will see a blip on their screens with this thinking... then again, maybe I'm not thinking through what happens after the checks are turned over.

To: Clint E. who wrote (16584)	6/15/1998 3:33:00 PM
From: space cadet	Read Replies (1) \| Respond to of 69161

Hi Clint, As I mentioned last week, the option activity will cause this to be a sluggish week. Despite the Dow being down 100 it still feels pretty slow to me. I believe now that the correction will probably end will a dramatic turnaround day, ugly ugly in the morning and then a robust recovery in the afternoon. If we can't get one of those turnarounds then the market is definitely sick. I expect that day to come some time next week. If it doesn't occur in June this could be a long boring summer, but I still doubt that. Meanwhile I notice that some of the top tech stocks are barely off their highs. MSFT is imprisoned by the Jun options. Once they expire I expect MSFT to recover and Michael Jordanlike to carry the entire market with it.