Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Monty Lenard who wrote (43082)	8/19/1999 9:31:00 PM
From: TRINDY	Read Replies (1) of 94695

You are right. Something stinks. There were (at least) two very curious happenings today. For one, the NYSE Utilities index made, in my estimation, a big reversal today. After months of essentially no to sightly negative action, suddenly up 3.53 points. Pleeeaaasse! This on a day of a record trade deficit. For another, there was a sizable differential in how much the NAZ Composite was down (-1.37%) in comparison to the NAZ 100 (-1.67%). The small % change in the DOW and in the Valueline provide evidence that there is a big flight to quality going on, and it is likely to get bigger, IMO. This is soon to become a stock pickers market, at best. Big cap leadership will change. Internuts should continue under severe pressure, save for days like yesterday when some anal-yst tricks J6P into buying. Big kahuna? Who knows. But times they are a changing and for now my bet is down. Look for "value" to once again be in vogue. Happy investing.

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