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Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?

To: Philipp who wrote (52971)	9/17/1998 9:50:00 AM
From: donald sew	Read Replies (1) \| Respond to of 58727

INDEX UPDATE --------------------- I would not be surprised that the BIG BOYS will attempt to take the market back up today and tomorrow, and try to close it substantially above the lows. If that does happen, I would not immediately take it as a positive sign. Sorry, I got that RUBBER BAND/GUITAR STRING theory, which would imply that all it will do is delay and intensify the downdraft after option expiration week is over. Seeya

To: Philipp who wrote (52971)	9/17/1998 10:23:00 AM
From: B.REVERE	Read Replies (5) \| Respond to of 58727

This market is down for one reason only. The IMF refunding is in jeopardy from Congress. Anyone who watched the banking committee working over Gman and Rubin realize that Congress is currently opposed to the refunding. This has serious global implications esp. to L/A. where US banks have a 28 billion exposure. The public sees how animated the committe was on getting a new reason to throw good money after bad and the three blind mice came up empty. The world watched and saw that the goose that lays the golden eggs may go on strike and acted accordingly. Anyone here agree. CNBC has completely skirted the issue to avoid a very panic in the market. Later, BR

To: Philipp who wrote (52971)	9/17/1998 11:35:00 AM
From: Jorge	Read Replies (1) \| Respond to of 58727

Phil...I have never heard of this thread, but was given a link over here...I'd like to comment on today's downturn....We've been going up in a several day uptrend due to oversold/technical and fundamental hopes on a rate cut...Yesterday, without the rate cut hint everyone was looking for, we had program buying to artificially mask what would have been a fairly large down day, IMHO....Today, we are back to the fundamentals (maybe some technicals too) that being the Foreign trade exposure that has been causing many companies to lose their profit margins all year long has not gone away..The one hope everyone was looking for WAS the rate cut to stimulate, and with a concerted effort by G7 countries' rate cuts, our and world economies...Without that we are back to square one, corporate declining profits and Wall Street knows that.......Even after the Clinton video gets run tomorrow I think we will still be back to fundamentals within a couple weeks at most. Regards, George