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

To: bobby beara who wrote (31285)	10/12/1998 10:15:00 AM
From: Moominoid	Read Replies (1) \| Respond to of 94695

I think we made a significant reversal. Yes but why in the US? In Europe I understand their markets have fallen far more than Dow/spx and may be correcting up. In Japan the bogus bank deal. In US the positive would be that a lower exchange rate will help US exporters. I can't think of much else. David

To: bobby beara who wrote (31285)	10/12/1998 10:45:00 AM
From: Moominoid	Respond to of 94695

This chart (the momentum chart) would seem to confirm your theory: iqc.com and this one: iqc.com

To: bobby beara who wrote (31285)	10/12/1998 11:26:00 AM
From: Haim R. Branisteanu	Read Replies (2) \| Respond to of 94695

BB, take a look at the 1929 chart there also after a sharp sell-off the market went up strong for two days only to go south again. See also more recent history in 1964/67 very similar pattern to todays market. As of now we made a 100 SPX move from last week lows, or over 11% in two trading days, just because Japan made positive comments on their banking system. The US still has no budget, and Congress still has not approved IMF funding. To me the whole issue is more a massive short covering. Covered my longs this morning. BWDIK Haim