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Strategies & Market Trends : The Stock Market Bubble -- Ignore unavailable to you. Want to Upgrade?

To: Paul Shread who wrote (1315)	8/28/1998 9:31:00 AM
From: Kenneth E. Phillipps	Respond to of 3339

U.S. stocks expected to rebound NEW YORK - U.S. stocks may rise Friday as investors speculate that low interest rates and a growing U.S. economy will help offset Russian turmoil and global economic slowdown. J.P. Morgan and other banks that led Thursday's 4.2% rout in the Dow Jones industrial average could rally. Declining stocks swamped advancing issues by an 8-to-1 ratio on the New York Stock Exchange Thursday in the second-heaviest trading ever, analysts said. That could indicate that most investors who feared the effects of Russia's crisis and slowing economies on U.S. corporate profits have done their selling. ''Yesterday was the first time we saw market complacency turn to fear,'' said Barry Hyman, a market analyst at Ehrenkrantz King Nussbaum. ''That's possibly a sign of a market bottom.'' Futures on the Standard & Poor's 500 index for delivery in September rose 13.00 Friday morning to 1049.00, about 0.5% above fair value as calculated by Bloomberg Analytics. September futures on the Dow Jones industrial average rose 95 to 8205. The yield on the 30-year Treasury bond fell as low as 5.28% overnight. Low rates prompt spending and cut the cost of financing business, fueling profit growth. Overseas markets slumped again Friday, though traders said the declines there were a catch-up move to reflect the U.S. drop Thursday. Japan's benchmark stock index plunged to its lowest in more than a dozen years. The Nikkei 225 Index tumbled 3.5% to 13915.63, while Hong Kong's Hang Seng Index dropped 1.2% to 7829.74. European stocks recovered from their worst levels as U.S. stock index futures rallied. The Bloomberg Europe 500 Index fell 1.2%, Britain's FT-SE 100 Index fell 1.5%, Germany's DAX Xetra index dropped 1.6% and France's CAC 40 Index fell 0.3%. Copyright 1998 Bloomberg L.P. All rights reserved. Front page, News, Sports, Money, Life, Weather, Marketplace cCOPYRIGHT 1998 USA TODAY, a division of Gannett Co. Inc.

To: Paul Shread who wrote (1315)	8/28/1998 9:32:00 AM
From: bobby beara	Read Replies (1) \| Respond to of 3339

Bulls are now contrary indicators. No fear, everybody is saying buy the dip. I will add to my short positions on todays strength -gggg- This market may just float down from one support to the next without a one day crash. Good luck trading, bb