Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Bonnie Bear who wrote (8228)	10/28/1997 4:02:00 PM
From: bearshark	of 94695

Bonnie, If you were going to turn the global decline before it reached the U. S. today, where would you start? I would start in London. Especially, if it is open after the rest of Europe is closed. London did turn. (I haven't been able to check if there is a lag in the closings though because of the activity on internet sites.) If you are trying to stem the tide of massive selling, where do you hold the line in the U. S. I would put everything in the 30 DJ industrials. It led the bull. It is the most recognized index. It will stem the tide of selling. Perhaps this is what we saw in the strange action of the indices this morning. We should expect governments to jawbone the right people in a financial crisis to do what is best for their country. Perhaps Mr. Rubin had some long discussions with some influential New Yorkers yesterday and last night. Will a decline in the dollar help Hong Kong any tonight? I really am not sure. Put it all together and it sounds like public policy. The world will always welcome bears--we just have to sneak up on it.

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