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1. HAPPY NEW YEAR???
2. LETTERS
1. Will the market rally in January? Is the sky blue? But for how long? The die is cast, it is a game of chicken until January 28 (Chinese New Year of the TIGER!) to the Full Moon February 11 and the Winter Eclipse Pair February 26/March12. Buy Monday, Sell Tuesday...... Next year we worry about it. ENJOY your new year!
INTERMEDIATE TERM, WE CONTINUE LIGHTEN UP MAJOR HOLDINGS EACH TIME THE MARKET APPROACHES 8000. Still, we will be long Friday the 26th for a probable Monday New Moon UP day.
DIJA: P1 Sell 7950-7970.
2. Markets will be down from today (18th).....It is more probable that the DJIA has NOW just started a two to four month phase of decline to much lower price levels than one would imagine. Of course there "is" going to be very good reason for same..... that "news" coming later but a surprise to all.
HW: Maybe, unless that surprise originates from the MIDEAST!
Dear Chris: Get with it. The DOW is going below 6500, and fast. We are in the midst of a giant deflationary period which may take years to unfold. Property and and all other assets are going into the tank, although we may have a some kind of Christmas rally, after February, the market tanks BIG TIME. Maybe before. This is a 1929 situation.
HW: Speaking for myself, not Chris, I disagree about property values, depending of course on WHAT you own. I don't think this will be 1929, but 1998! :) However I FULLY agree with you, we will see a test of 6300-6500 support in 1998.
DOWNGRADES of South Korea's debt to "junk" status by two U.S. rating agencies took a severe toll on Seoul's stock market, sending the market's key index down 7.5% yesterday and 4% today....
HW: Crisis represents danger + opportunity. Currently 2/2 on Korea, we recommended rebuying Korea (KF and/or KIF). Our suggested reentries were 1/2 Wednesday the 24th and second 1/2 on Friday the 26th.
Wednesdays, listen to our ABS radio program TRADING BY THE STARS, Channel 12 on the Microbrowser.