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1. COUNTDOWN STARTING
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4. LETTERS
1. THE END IS NEAR, BUT NOT JUST YET. Most Investing portfolios are prepared for DIJA 8500. Is yours prepared for DIJA 6500? We are starting our countdown beginning next week until March 12. Some believe March to June will be a stampede to the highs. I believe the reverse is true.
While the market could easily approach 8060, and I hope it does EARLY next week so I can be fully comfortable in Bear mode, we are preparing to selectively increase our short positions and/or buy puts. Our IBM marker is our P2 and P3 targets of 108 and 111 respectively (as a trading signal - we are NOT shorting IBM!); our DIJA markers are P1 7820 and P2 8060. There are many choices. My current favorite stock short is AOL at 94 OB (AOLNR ~3) next week, and if their news surprise is unfavorable, we will short again at 99+.
DIJA S1 7722 R1 7820
SELL: AOL
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4. I see in your 1998 forecast you write (Feb26 /March 13) "The first eclipse pair will most likely demark a big market drop or another market top". I DONT understand this. Is is going to be a drop? or Is it going to be market top? How are we supposed to use this? I thought eclipses were in general associated with dips? Please clarify this 1998 prediction.
HW: Eclipses represent COSMIC power. Some eclipses mark rallies, other market collapses. On the Solar eclipse February 26, the Sun is square Pluto. Preceding the Lunar Eclipse March 12 (11:34p ET), Jupiter is Square Pluto on March 9 and the day after Pluto is SR. I hope that answers your question. If not, stay tuned to WSNW for further details!
In this week's letter you recommend buying IBM Options. Are you referencing CALL or PUT options? Still looking for 108 high?
HW: We bought calls as we were BUYING the market.. Of course if the market had collapsed Monday, then puts would have been the right choice.
HK down on collapse of Peregrine Bank. Now this is too bad for Hong Kong and the global economy. But can't think of a more deserving set of curs to go down. These are the guys who said the '89 crackdown in China was OK. They put a third of their capital with an Indonesian taxi company because it was tied in with the Suharto family. Good Riddance to bad rubbish.
HW: One of the side benefits of the current Asian crisis is that it will result in more democratic governments. After a few major bankruptcies in the property sector, it will be the RIGHT time to reenter Hong Kong as an TAO Investor.
Damage from the ice storm in upper New York State/New England could exceed $1 billion. It will undoubtedly be the most costly natural disaster in Canadian history with over $500 million Canadian in claims. Your take on this?
HW: If it weren't for the Saturn/Neptune configuration next year, we might have gone long Natural Gas. Re Canada: this event was yet another reason we urged all our readers to DUMP the Canadian financial sector (banks, brokerage and insurance stocks).
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