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I value your comments, thanks for posting them. Are you watching the
Peso ? Any comments ? I agree with you about the wait and see, there
aren't to many markets that stop an - up or down trend - on a dime and
immediately proceed in the opposite direction!
JB
+++++++++++++
On Thu, 04 Sep 1997 12:49:36 -0500 Robert Doeden <bdoeden@xxxxxxxxxxxx>
writes:
>Some comments about markets I'm watching:
>
>DOLLAR: Dollar index peaked on 8/6. Corrected to 50 day
>average and ralleyed back about 50% of the drop. MACD &
>OBTR are both indicating that the rally will fail. Look for
>purchasing opportunities in the Swiss ,Mark & Yen.
>
>DMARK: MACD gave buy signal on 8/8 and OBTR confirmed on
>8/25.
>
>SWISS: MACD gave buy signal on 8/8 also and OBTR confirmed
>on 8/15.
>
>YEN: STOCHASTICS gave a Buy signal on 9/3. Not confirmed
>yet by MACD and OBTR. Behind the Swiss & Mark. Southeast
>Asia turmoil has contributed to this.
>
>COPPER: In downtrend since mid June. In spite of much
>negative press has held above 96.00. MACD & OBTR are close
>to giving a Buy buy signal. This contract bears close
>watching.
>
>My comments are based on the following indicators and their
>periods:
>
>Stochastics - %d=5 mov ave=3 %d mov ave=3
>Macd - 12-26-9
>Obtr - 10-10-10
>-------------------------------------------------------------------------------------------
>
>John Bollinger (Bollinger bands) appeared on CNBC on Tuesday
>commenting on the problems in SE Asia saying that this is a
>Buying opportunity. Said he has started to buy. There has
>been some bounce back in the country funds from this area
>that trade on the NYSE. I haven't started buying yet myself
>but am watching the situation closely. From past experience
>(painfully learned) I find that patience is rewarded. I
>usually look for a rally and then a retest of the low before
>taking positions. I also watch the MACD & OBTR closely.
>Both are a long way from giving a buy signal. Some of the
>funds I'm watching are:
>
>MF Malaysia Fund
>JEQ Japan Equity Fund (Japan large caps. Now about 16%
>over NAV)
>SAF Scudder New Asia Fund
>SGF Singapore Fund
>TTF Thai Fund
>
>Check the Monday issue of the WSJ for the NAV on these
>Funds.
>
>There are also WEBS on these countries. I haven't traded
>any of the WEBS so I'll have to brush up on them myself.
>
>Regarding the overall market - we've had a bounce back to
>where I would expect if the downtrend is going to resume.
>The market is going to have to prove itself to me by
>advancing convincingly above 8022. Until then I remain
>cautious. If the $ does weaken, which my charts indicate, I
>would expect weakness in the market and bonds. I remain
>primarily invested in natural gas stocks which continue to
>show strength. Will review closely my positions in these
>stocks in October when colder weather hits.
>
>Comments by others on these remarks are welcome.
>
>Bob Doeden
>Chicago
>
>
>
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