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Strategies & Market Trends : Waiting for the big Kahuna

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To: thebeach who wrote (30744)	10/15/1998 7:15:00 AM
From: Tommaso	Read Replies (1) of 94695

Were you watching Wall Street Week in 1987? Marty Zweig said, "There is going to be a crash" within a week or two of the big drop. As for me, I was totally out of the market, and was trying unsuccessfully to persuade a bank trust department to take family money out of stocks. After the crash we got a letter from the bank saying that something worse had happened in 1914. What happened then was that trading was suspended and when it resumed a new Dow Jones average was in place and the market was actually higher though the index had been changed. You are not correct, at least as regard the Dow, that there has yet been a decline equal to 1987. Perhaps the Ruseell 2000 is down that much--as much percentage as the Dow in 1987. The Fosback mutual fund report just showed Prudent Bear, the short fund, up over 60% in the last three months. A lot of former bulls will be on the short side of the market if the Dow gets below 4,000.

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