Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: William H Huebl who wrote (43149)	8/24/1999 6:05:00 PM
From: pater tenebrarum	Read Replies (3) of 94695

Bill, agree with you on that - btw, several indices have now surpassed the 0,78 fibo retracement level and that suggests that the final blow-off is well underway. i am looking for Dow 12,200 as a minimum near term target, perhaps even higher. should we blow past 13,000 on the Dow, i think a giant melt-up to perhaps 18,000 is in the realm of the possible. of course the market could just as well melt down, but the odds increasingly favor a melt-up imo. in typical late stage mania fashion the market now ignores interest rate hikes and continues to narrow. i expect the concentration of speculative capital in a smaller and smaller group of stocks to continue and power the indices higher. no doubt it will end with a crash more spectacular than anything we have ever seen, but for now look for higher prices. in the next few days we may get a post FOMC hangover pullback, thereafter it'll be off to the races again... regards, hb

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