Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: steve susko who wrote (1825)	7/2/1997 5:20:00 PM
From: Mike Fredericks	of 94695

<< Since it is widely accepted that Fed will hold, that action will not cause any upsurge in the market. It will probably be a non-event as far as the market go >> Guess 70+ points isn't a real upsurge anymore... less than 1% of market value. Good thing that market closed at 7795... crossing 7800 would have been more bullish... It hit 7790 with a few minutes left in trading but it seemed to run out of steam... I hope the employment numbers are bad tomorrow. But remember last month. I predicted (on Mohan thread) that unemployment would drop to 4.8% - I was dead on. I predicted that the low unemployment would translate to a market downturn the next day. I was dead wrong on that. Market shot up. Good news = market up. Bad news = market up. I have lost more money than I'd care to admit in puts. Still holding my July's though. sigh -Mike

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