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Euro-financials(att.) were the power behind the Sep96-Feb98 Europe's Uptrend.
They have gained 100% in 1,5 years !!!!!!
All BASIC-indicators are heavely oversold(breaking out at the top of my screen) or rising.
TRADE:
Weekly Stoch crossed down its MA5 but remains firmly in 80-100 zone(89).
TREND:
Weekly RSI still rising to enter +70.
Weekly KST stiff erected.
FACTS:
S&P500,CAC40,DAX30,FTSE100 all made new highs.
AEX is lacking behind, like the DOW+Nasdaq.
Nikkei stumbled on heavy resistance-level 17500, and resumes to go much lower.
(Will bring it to a L.T.(3-5yrs) buy-signal in the RSI if the 14/15000 can hold)
(in Holland buy the InterEffekt Japanese Warrants Fund below Dfl. 15,=
as a L.T.-investment aiming for its previous 1990-high at Dfl. 370,=
might take plenty of years, but it will be worth it ).
The Grand-Final is thus acknowledged (see my mail to Al's mail on USTB). Prepare to go
short, buying puts, soon at the TOP of the market, when 9 out of 10 BASICS turn down/
fall out the overbought territory(feb/mrch)
second chance: will be when the short-term-uptrend support lines are down broken,
third chance: will be when we will have pull-backs to these former support-lines(now
becoming resistance)
fourth chance: when horizontal support-lines(at main-bottoms in the past) are down broken,
for the 1998-50% correction roller coaster(notice it can last >6-12 mths).
Thanks to the 6.5-upgrade: A Nested Triangle in a Triangle(Att.).
Thanks to the 6.5-upgrade too: a new Default template, or is it the old one "calling" upon
"upgrade" indicators. Default ain't Default anymore!! Lucky to be warned by other List-members to
make a "copy" first before upgrading. For other "upgraders" this message should have come with
the instructions as well. But most of all the upgrade is worth it(also acknowledged by other
Listers).
I do own an Iomega-Zip100 for as long as I had my computer and can't see the fuzz about its
functioning as it is a most handy, compact and most of all no-time-consuming-master of archiving.
In fact next time I'll go for the 1GB-disk-drive with SCSI. I have heard they are faster in
input/output exchange than the Paralell-Port I have. Either way can't do without them(and not as
complex as the Metastock software, but that is relative?)
Next INSECT-sector index on EuroBenchMark's-list will be "the european Telecom" in both
DM and U$, (DMarks will be converted to Euro's later) as announced in Het Financieel
Dagblad(6-2-98), and many more to follow onces they match EBM's levels.
To Will:
The Adv's-Decl's are not the problem, it is the AEX's refusal to measure volumes for its
indexes(Chip had a mailing about this subject), if I had a toko I sure would know the exact
turnover(=volume)!!!!!!!, but with the EC-market starting coming May, they might turn-around?
It is the same as what hapened in the late 80's early 90's with the "open"-quote: took them
years to be confinced that these statistics are a necessity in todays software(except the old
systems they use over there, DOS-like I suppose).
Probably this must have happened in 60's-70's as well with the "high" and "low"-quotes.
Their "monopoly" will get cut down soon when we will have one currency and more Euro-indexes.
I think we will see mergers of various Exchanges. This way the AEX-indexes will die out and
loose signifigance like the CBS's indexes.
That I don't mind. It's time for the New(European) approuch. I don't buy at London's as yet
but basically it is around the corner, has got so much variaty to offer, f.i. a huge warrant-market.
Lucky, London and Amsterdam are teaming up, like Frankfurt,Paris and Zurich. Maybe we
will see a LSAEX-index, combining the LSE's FTSE100 and the AEX (with volumes?????).
Mind you how many of "us" already buy direct in NewYork, Tokio, Sing/HongK/Syd or Zurich,
or elswhere! Ahold(Aho) has got warrants listed in Zurich, why buy the shares?
The "FTSE EuroTop100" alikes will be here "tomorrow", according to EuroBenchMark(+newspapers).
LSE+FT-SE+S&P +GoldmanSachs are jointly coming up with Euro-indexes as well as the Dow's
"family" of indexes, jointly with Paris,Frankfurt+Zurich Exchanges. At present we already have the
MSCI's.
And there are more Euro-Indexes(see MetaStock6.5-Historical Data-disc).
Will get back to you on the above Adv-Decl and TRIN.
Gr./Reg.
Ton.
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