Ask Mohan about the Market Message Board

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Pastimes : Ask Mohan about the Market

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To: Cynic 2005 who wrote (6973)	11/4/1997 6:10:00 PM
From: Zeev Hed	of 18056

Mohan: I doubt the Fed's realy want to keep the market within a narow band of 5% from fair valuation. I think they try and avoid runnaways of any kind, either up or down, since such run aways have a tendency to misappropriate capital on one hand and to cause sudden dearth of capital on the other. As Invetors I think we should realize that the market often overstays its enthusisam and depression, like a manic-depressive patient. Right now, we have, I believe seen the first sings of a break in the upward momentum to extreme valuations. Is this correection the one that will bring us back bargains like we had in August of 1982? I do not know, but one thing does seem clear, the knee jerk reaction to the last drop has dissipated pretty fast, and I am afraid (for the bulls) that come next Monday, we can expect another black one. AS a matter of fact, I think that by tomorrow afternoon a decline will start culminating in a very severe decline Monday. The weakest sisters will most probably be the LRCX, KLIC and ASND and even the AMAT and CSCO of the market. Zeev

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