Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: William H Huebl who wrote (10243)	11/24/1997 4:49:00 AM
From: Arik T.G.	Read Replies (1) of 94695

Hi Bill, Feels good to post under the comforting embrace of general agreement, and disagree on technicalities. I share your view of "rational" valuation for the Dow being 30% lower then current market prices. 6000 as a benchmark IMO. Since I see no way under current market conditions that the Dow would reach that level without MAJOR repercussions- starting a snowball downhill- the 2700 number is as good as any in the range between 1000 (worst case millennium crash scenario) and 4500 (which I believe to be first target price, taking back all that was gained in the 3 years bull). BTW- Back in Aug I claimed we're already in a down trend and you said trading range. The chart proves that you were correct- the down trend was short lived and SPX 900 proved to be a strong bottom of the channel. A wide channel, but generaly a sideways motion of the indices. ATG ATG

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