Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Arik T.G. who wrote (4800)	8/31/1997 11:42:00 AM
From: Bonnie Bear	of 94695

Arik: the IBD mutual fund index looks like it had a double top and is trending down. Small caps get dumped when people sell their mutual funds, so we may be entering a time like April where there's lots of bargains. The volume of money going into mutual funds is very misleading: my money-market (cash) brokerage account counts as a stock mutual fund, and so do "balanced" funds that consist of 90% bonds. So I don't think we can infer a great deal from the published statistics of mutual-fund purchases. The wild card next week is Asia and soaring interest rates there. Mid-cap market has some spectacularly overvalued stocks that are heavily shorted. I'd speculate on a correction before it moves up again.

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