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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: mattie who wrote (18136)	10/23/1998 1:35:00 PM
From: Clint E.	Read Replies (1) \| Respond to of 67961

Mattie, I haven't followed IFMX for almost two years so no opinion there. MSFT: I got out yesterday to lock in profit not because I changed my view. I am not sure why it is down today except profit taking after it ran 10 points in three days. My next nibbling would be at ~106-1/2. I don't follow oils or drillers anymore. I stick with stocks or industries that I know something about. Good luck; Clint

To: mattie who wrote (18136)	10/23/1998 2:56:00 PM
From: Clint E.	Read Replies (1) \| Respond to of 67961

2nd. round of msft at 106-3/4.....Clint

To: mattie who wrote (18136)	10/23/1998 6:50:00 PM
From: Clint E.	Read Replies (2) \| Respond to of 67961

Mattie; The NAZ hasn't broken its uptrend. The same goes for the DOW, SPX, BKX.... 1630 has been the most significant level for the NAZ this year. Once it crosses that level, it continues marching in the same direction. Short-term, we should stay above 1630. The support levels to watch for the rest of indices are: DOW=8300 SPX=1050 BKX=~710 This rally and its worldwide effect is what I expected to happen after the first cut. To me, this was all planned from the time of the LTC article but it took further pressure on the Fed. Reserve(thru the IMF and meltdown in worldwide markets) and a second cut to make it happen. I think this uptrend will continue, at a slower pace, until the 1st week of Nov.(the week of unemployment data). The next thing that could hit us is the fear(or realization) of not receiving another rate cut as we enter into Nov. and start receiving econ. data ahead of the next Fed. meeting. The time to short stocks is when/if we start getting more press on the possibility of another cut in Nov. I don't think that would happen and if the markets push ahead in expectation of one, it would be a good opportunity for shorts to make decent money again. Clint