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Hi Guys,
This market is not particularly easy to call because, for one thing, I'm
unsure to what extent the asian troubles have been discounted here.
Also, from a technical point of view, we don't get much help because, in
my opinion, last week was a no count due to not the usual players making
up alot of the volume. We're used to failed rally attempts, so what's
next? Maybe a succesful rally, or maybe an unsuccessful test of the
lows and we go down to dow 7600. For those of you who are interested I
present 3 potential plays for tomorrow. If you decide to play any of
these, do not trade them at the open, and wait for them to first move in
the direction you want them to. Then look to sell into rally or cover
into weakness. As for me I generally do not hold a position overnight
unless it is going my way.
watch these tickers for a long: PWJ paine webber, TWA Trans World
Airlines
watch this one for a short: TBI tuboscope
Best wishes,
James
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