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1. OCT. 19
2. STOCKS AND BONDS
3. ASTRO ECONOMICS CONFERENCE
4. LETTERS
1. Next Sunday Is the 10th anniversary of the October 19 1987 Crash. Business journalists are asking is "Will it happen again?" My answer is that it is quite possible - all it would take is 2-4 points on the bonds and more earnings disappointments. As a financial astrologer I look at specific dates as having 4 basic attributes: astrological, psychological, legal and news qualities. Astrologically an anniversary date is a Solar Return which in this specific instance is not particularly bearish.
October 19, 1987 had both a Sun-Jupiter (big-move) Moon square Saturn (public-sad) quality.
October 17, 1997 the trading day before opens with Moon-square Jupiter (public-happy) and Mercury square Neptune (Mental Confusion)
October 20, 1997 the first trading day after has Sun-Neptune (Day confusion).
Forecast: This will probably leave many players on the sidelines with the markets on slight edge. Bears will use it as another excuse to short the market and contrarian market makers may try to squeeze them. MORE IMPORTANT: Tuesday's CPI report and Wednesdays Full Moon will set the basic tone for the market next week and the week after.
2. We held multiple shorts over the weekend. Monday is a play day, astrologically it SHOULD be significantly down and may show up in several world markets, but with light holiday trading, anything is possible. We may have to dance around our shorts and hold overnight. However if we have significant profits, then as this past Thursday, we will take some and ride Tuesday's news with less risk.
Keydates: Oct 14, 15
DIJA: 8040 Current Line in the Sand
BONDS: 113.22 to 15.15 or 115.07 to 116.21 depending on Tuesday's Report
3. 18 - 19 October 1997 - 10th Annual World Conference of Astro Economics, Hotel Sofitel, Rosemont (near Chicago's O'Hare international airport), Ill, USA, with Pete Bresnahan, Lloyd Cope, Arch Crawford, Carolyn Crawford, Loretta V. Glowaty, Jim Hyerczyk, CTA, Joan Kellogg, M.A., Barbara Koval, Alphee Lavoie, Dr Hans Lenz, Jeanne Long, Ray Merriman, B.A., CTA, Dr Ruth Miller, Robert Miner, Grace K. Morris, M.A., Jerry Pedgen, Larry Pesavento, Kaye Shinker, Georgia Stathis, MBA, Norman Winski. Info: phone 1-708-636-3858, Fax 1-708-425-7380, Email: astro@netwave.net, URL: http://www.astroeconomics.com
4. Dow Jones crash date already known?
HW: YES BUT ALAN GREENSPAN SWORE ME TO SECRECY! :)
I had originally predicted rates would fall to around 6.25% by year end. I would now think that the possibility exists that rates could go through the 6% level between now and year end. My original 7,500 for the Dow is already a conservative figure but I would not be surprised if the market moves sideways and stays at its current level through year end. There maybe a few tremors but i do not foresee any major quakes. Spurned by strong corporate profits, and low inflation, 1998 maybe be another growth year for stocks.
HW: I disagree on all counts except the market not going higher this year, but I did lose one bet with you already that the market would not reach 8000 this year. I am a bond bear and don't see low inflation - unless my wife is lying when she asks me for more money! :)
I saw at http://www.canada-stockwatch.com: "1997.10.02, International Hi-Tech, Industries Inc, News Release 6:1 consolidation proposed" Do you think this will work out to be a good reverse stock split?
HW: Well I am not personally happy about it, but it was necessary. Fortunately IHI should be on Nasdaq Small Cap as soon as next Thursday. Later I believe the company will be in a position to do a stock split in less than a year, so really won't matter except for some short term psychological pain for investors and the temporary selling which I believe is already over as IHI has now found support at US$1 and is a trading buy once more. More important, latest news from the company, IHI on factory progress, new orders etc all positive.
Excuse me, but what does this mean in English..."10/10 WSNW ALERT 18 Sell the market cover Monday Close. above 8000 good enough Bonds 115 OB"
HW: As you know we suggested timing shorts for the end of last week. Wall Street Alerts are just reminders that the market conditions are right to consider adding positions. On Friday, despite bad news, the market held about 8000, so felt additional (or new) shorts any place above DIJA 8000 (we did 8040) or shorting bonds AGAIN from 115 {6.44 yield level) OK. Of course individual stocks could also be used as we give these as market markers. OB = Or Better.
You indicated Oct 9-10 were possible BIG BIG down days. Usually you indicate some astrological occurrence but did not do so in this case. What is the significance to said dates?
HW: Well on the 8th of October we had both Jupiter and Neptune going stationary direct - note how Alan Greenspan who is co-ruled by both those planets changed his mind again. Then we had the PPI report on Friday that we felt would finally admit to some inflation and tank the bonds as well as Sun-Opposite Saturn that day- suggesting the need to face reality. And in my opinion,any view of Reality for today's market's pricing is NEGATIVE.
Tuesday & Friday, listen to our ABS radio program TRADING BY THE STARS
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