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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: MythMan who wrote (57115)8/18/1999 5:42:00 PM
From: pater tenebrarum  Read Replies (1) of 86076
 
i will double-check it...can't believe it myself. however, all the sentiment polls show a steep drop in bullish sentiment. that could mean that the market is readying itself for a blow-off rally. sometimes a drop in bullish sentiment leads to a negative resolution such as the plunge last year. however, we had a major global financial crisis brewing then which isn't the case now. perhaps a further rise in the Yen will precipitate trouble down the road. the panic buying in the Yen today suggests the hedge funds are getting nervous. they are all short gold and long stocks and bonds btw. Soros lost $700 million in inut stocks so far this year. conceivably the funds and the Japanese institutions could decide to take profits at the same time....probably too much to ask though. in the end the Fed will always stand ready with coupon passes to inject liquidity and keep the bubble party going. anyone who thinks differently has been asleep since October '87. the BK will remain a myth...
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