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Strategies & Market Trends : Argentine stocks -- Ignore unavailable to you. Want to Upgrade?

To: EPS who wrote (67)	9/15/1998 5:26:00 PM
From: X Y Zebra	Read Replies (1) \| Respond to of 331

Yes, I hope things begin to turn around, I believe that in general Latin America (at least Mexico, Brazil, Argentina and Chile) are in a far better shape that in Russia, and even in some of the SE Asia ex-tigers. Now only if they could clean house and get rid of corruption..... I know it is a dream, but at least that they would reduce it to a more "civilized" (if you can call it that), levels. I believe that of these four, Argentina may be a better shape than the rest. Z.

To: EPS who wrote (67)	9/16/1998 5:45:00 AM
From: EPS	Read Replies (1) \| Respond to of 331

Tom, Z, Interesting info in this tech options post: To: +donald sew (52701 ) From: +MonsieurGonzo Wednesday, Sep 16 1998 2:39AM ET Reply # of 52783 Donald; RE:" LatAm " >Really would love to get technical charts on S.American markets. With the S.American markets soaring so much, tomorrow could be their CLASS SELL, and if I am correct our BKX will not have that to support it tomorrow. CBOE:LTX.X -Latin American Index ...has bounced smartly in three sessions from ~80, past first fibonacci line at ~97.66 to close at 98.61 today. Stochastics shot up to just over 50 midrange and now indicate over-bought. Next upside target is 105~108 area DownTrend Line. BZF -Brazil Fund ...similar, of course - has busted DownTrend Line from 31-JULY past fibonacci line at ~12-1/8. Next upside target ~13-13/16. AF -Argentina Fund ...bounced from 6.5 almost precisely to the fibonacci retracement (and 14d EMA) line at ~7-7/8. DownTrend still intact, with next upside target around ~8-3/8. Not quite so over-bought on stochastics. CH -Chile Fund ...no real bounce up, like the others; note that the apparent big gap on the chart is actually due to ex-dividend payout from the fund, which was taken out of the fund's Net Asset Value. EWW -Mexico WEBs ...bounced up past the fibonacci retracement from 17-JULY top, but met almost exactly the fibonacci line from 22-APRIL. Over-bought stochastics. Next upside target around ~9-3/4. BKX.X -Banking Index The correlation between LatAm and U.S. Banking sector is uncanny; using the SI comparo-chart, compare BZF CCI CMB AXP AIG MWD MER for various time periods, for example. Shorting LatAm is roughly equivalent to shorting our own banking system. Though the original raison d'etre given for financial sector weakness was TRF -Russia, I wonder. BKX.X has broken out of its apparent DownTrend Line; stochastics are over-bought; however, retracement back to DownTrend and further gains would bode well for the BigBoard: nothing drives the major market indices more than the U.S. Financial Sector. In the short term, it looks like LatAm and BKX.X will climax and then go back down; a technical correction if nothing more. However, the stochastics indicator on my charts are themselves, upward-trending, with higher-highs and higher-lows; and one can only hope that the global financial sector has come back from the brink of collapse. This is the first 3-day rally in this sector since the stock market crash. -Steve