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Pastimes : The Naked Truth - Big Kahuna a Myth

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To: Bill F. who wrote (66956)10/6/1999 9:08:00 PM
From: Lucretius  Read Replies (1) of 86076
 
gotta LOVE this.... HO HO HO

<<<<"Now you can put it in stone. The bottom has been put in." >>>

Despite an unconvincing performance by breadth indicators, some market players spoke of the market having shaken off its recent hesitancy.

"I was actually convinced the market bottomed yesterday, then the Fed hit," said Gary Kaltbaum, chief technical analyst at GSG Securities in Orlando, Fla. "Now you can put it in stone. The bottom has been put in."

The technician declined to predict an upside target, noting a lot of "congestion" between Dow 10,500 and the old highs. But he expects earnings to be "powerful" and noted interest rates are still relatively low.

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