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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: bill meehan who wrote (71951)10/27/1999 6:32:00 AM
From: accountclosed  Read Replies (2) of 86076
 
Bill, good spot on cnn. It's cool that you tell it like it is and stick to your guns. Thanks.

For those that missed it, the questions almost all centered around the change to the dow 30. Bill speculated on how interesting it would be to see if people with dow targets next year of 13k or 12.5k would change those forecasts since the composition of the index was so different. I believe the exact quote was "It will be interesting to see if those forecasts are based on anything or are just nice, round numbers." Bill also pointed out that with a 13% turnover all at once would make it hard to have technical analysis of the dow mean anything due to the dislocation. The hype in the press about the change being "historic" he dismissed except in the possible case of in retrospect it being another warning sign of the beginning of the end.

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