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

To: Philipp who wrote (25677)	8/31/1998 5:55:00 AM
From: Philipp	Respond to of 94695

No really disastrous news today apart from Russia (but it could hardly get worse than last week), Hong Kong (down sharply, but not crashing [yet]); Japan in a weak, technical rebound. Since the market is probably short-term oversold, that should be good for another rally attempt. It will be interesting to see when this one will fail and whether the market can actually stay up for the whole day. My guess is that the Dow may rally by 50 to 100 points in the morning till the selling starts again and then drift down for the rest of the day approaching the 8000 critical support. This would be very ominous and an extremely dangerous set-up for tomorrow (both Japan and Hong Kong are about to crack within the next few days). Good trading to all, Phil