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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Philipp who wrote (24199)	8/14/1998 4:55:00 AM
From: Philipp	Respond to of 94695

A bullish counter-case? 1. The international financial crises are relaxing. It is not in China's interest to devalue. The Japanese mere threat of intervention has strengthened the Yen (threats don't work when currency speculators are winning); expect further strengthening and actual intervention in the next few days (140 Y/$?). Russia is still in free fall, but has been for a while and there is no bottom in sight; but Russia alone won't move the US market. 2. Clinton is likely to confess over the weekend/after his deposition. 3. Next week is expiration week. These factors together should be good for the first decent multi-day rally in the present down-turn. It could start as early as today (futures up significantly), but we could see another head fake and perhaps a condensed version of David's 5 of 1 concluding by Monday. It should really take off after Clinton's confession. I no longer believe that we will see an August crash (my original crash day was next Monday). Well, I now seem to be the only (short-term) bull on this thread. Unusual. Good trading, Phil