Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Amelia Carhartt who wrote (42942)	8/11/1999 4:37:00 PM
From: pater tenebrarum	Read Replies (1) of 94695

Susan, as i have said before: in a 'normal' market, oversold conditions almost always lead to a rally. yesterday's downturn produced a fear spike in the put/call ratios, and unless the market really crashes, a sharp rally is a natural consequence. you must not make the mistake of equating the consensus on the technically oriented SI threads with the general consensus, which has turned quite bearish recently. however, the correction has once again done NOTHING to remove the excesses in the market, except perhaps in the nutz sector. there was no appreciable selling, only a lack of buying. so a shakeout at some point still looms. regards, hb

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