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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: MikeM54321 who wrote (5774)	8/22/1998 8:20:00 PM
From: Zeev Hed	Respond to of 9980

I do not expect a move from the FED's to ease interest rates within the next two months. As for shaving another 1000 from the Dow in the next two months, it could happen, but make it two and a half month (VBG). The way my turnips are explaining to me the short term scenario is like that. Sometime next week we are going to start and go up a little, maybe into the 1st to the 7th of September. Monday and Tuesday could still be quite ugly. If the rally starts at once (on Monday), I will not even play it, if we get hit a little more Mon and Tue I may play that rebound. I have a top of no more than 8800 on the dow for this rebound and would not be surprised if we do not even get there. But starting the second week in September or there about, the turnips are saying stay out of this market. We are going to have prewarnings coming from every corner and together with the Nikkei finally breaking through the 14,300 and many Asian markets once more making simultaneous multiyears low, another run on the yen, joined by South American Markets also making multi years lows, will all contribute to the Autumn minimelt the turnips have been warning about for some time. A dow at 7500 in that framework will not be impossible, IMHO. Zeev