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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: MythMan who wrote (65841)10/1/1999 5:32:00 PM
From: Defrocked   of 86076
 
I'm looking at a UTIL graph from 6/87 to 12/87
right now. From the high of 214 on 8/14/87, the
index moved down to 193 on 9/21/87. From there
it rallied to 210 on 10/05, receded to 195 on
the 12th, and came back to 200.6 on Oct.13.
On Monday the 19th it was at 161 and only
177 on Dec.1. So the hitch-part was about 9% (from 9/21
to 10/05) before dropping about 20%, the bitch-part.<g>

Keep in mind that the Fed is not in a position
to bail us out this time. IMHO such a move could
be disastrous for the dollar, potentially cementing
the Euro as an alternative reserve currency.

Enough doom-and-gloom reality. Have a good weekend.
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