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

To: Tommaso who wrote (6053)	8/31/1998 9:09:00 PM
From: Andeveron	Respond to of 9980

>> The Globex seems to show up movement, for the US, but that could be residual speculative activity by those who underestimate the unease spreading among US investors. << Globex is a short seller's best friend when it gives false positive indications. This morning, it was up at around 8 points on the S&P September contract. Momentum players saw the positive indications and started bidding stocks up. That helped push the premium on the puts I wanted down and by the end of all this, the puts doubled in value by market close. It'll probably work again tomorrow to some extent since we appear to have early positive indications on Globex, even though Japan is now down about 2.5% and Hong Kong will likely lose another 400-500 points.