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Yuki,
We see a transfer in european markets these hours.
Athens is near -2% without reason and at light volumes. Promissing
Monday´s buys can not escape now, they are obliged to wait for
tomorrow [or more]. The blue chips are at -3% or -4% and if the
sellers will push they will easily go to -7%. They can not explain
this damage and, consequently, the stay and watch the situation.
I was out early in the morning, when the session was young and
selling was easy [overcoming, as usual, my broker´s opinion...]
Is it a counterclockwise world domino, or it just smells like a
domino ? [we need a sound amplifier, perhaps...]
Thank you very much for the morning briefing !!
Dimitris Tsokakis
--- In amibroker@xxxxxxxxxxxxxxx, Yuki Taga <yukitaga@xxxx> wrote:
> Hi DIMITRIS,
>
> Thursday, October 23, 2003, 7:06:47 PM, you wrote:
>
> DT> Yuki, you had a -4.2% on 22/9/2003 in TokyoSE. Was that day
> DT> similar to the last one [if you still remember that ^N225
> DT> session?] Were last day sellers more aggressive ? Any [personal]
> DT> estimation for the next two ^N225 bars ?
>
> Much more aggressive today. On 9/22, advance decline on the first
> section was 526 up, 913 down. Today it was a staggering 23 up, 1496
> down. Also, we had only 5 new highs and 31 new lows today. You've
> really got to go back to April to see that kind of negative
> imbalance.
>
> The next two days? Sure. ^_^ A lot will depend on the US, which
> will influence the dollar, which will have a big influence here.
> Bargain hunters will have to come in of course; it's just a question
> of when and where. We'll probably at least touch the 9/29 low in
the
> next two bars, which is 10,150 give or take a few points. Before we
> test 10,000, I'd look for a mild rally -- it's only 350-400 points
> back up to the 50-day from the 9/29 low. That would be about where
> the 18 day and 50 day will cross however, putting the 18 day lower
> for the first time since mid May. It's overdue, and I would suspect
> a rally will fail around there, typically just after looking like it
> will punch through to the upside. We should be range bound between
> 10,000 and 10,500 a while, give me a couple hundred on each side. I
> think the explosiveness has been defused for the time being, and the
> market will have to consolidate and think about next spring's
economy
> a bit. The easy money has long been made here this year. Next two
> bars, and next 6-8 weeks at least, not much headway, but a good
> traders market.
>
> Yuki
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