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

To: dennis michael patterson who wrote (55257)	10/12/1998 8:54:00 AM
From: donald sew	Respond to of 58727

INDEX UPDATE ------------------------- The overseas markets are up very strong, with JAPAN up huge, and the S&P FUTURES are up 19 right now. Interesting thought mentioned on this thread last night by ELROY JETSON, that if JAPAN is getting their act together money could flow from out markets back to JAPAN. Please keep in mind that the international economic problems are not over and the effects on our econonomy not yet fully understood. Lets say that Japan is on the right road now, that does not mean that everything is over. In the past the bond market decoupled from our stock market due to flight to safety, but if the intl market really views that JAPAN is now on the right road there should be quite a bit of funds moving back to JAPAN immediately. I view JAPAN as a double-edge sword. If JAPANs economic situation continues to decline, our markets should follow, but if JAPAN gets on the right road then our markets still moves down since money will be flowing out due to the flight to safety diminishing. Some/many felt that the FEDs would reduce rates over the weekend/immediately, but with the overseas markets doing well - guess they wont reduce rates today. gggggggggggggg Some earnings have come out positive this morning, so things look bright so far. Watch the market internals today carefully to see if this rally is for real. As I indicated previously, a break of 8182(8252) would produce a HIGHER HIGH, and technically that would mean we could be reversing to the upside. Pls also keep in mind that my short-term technicals will become overbought for the entire market if we are up very strong, some indexes already in the over bought region. Seeya