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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: clochard who wrote (79327)12/13/1999 12:48:00 PM
From: pater tenebrarum  Read Replies (1) of 86076
 
if he doesn't do it, i will. Jerry Favors reported on the bullish implications of a collapsing a/d line...what choice do we have in view of this? he calls for Dow 15K early next year. let me add that he was amazingly correct about the market's moves this year. unless his streak is over, we should prepare for a continuation of the blow-off, and entirely new levels of irrationality entering the marketplace. presumably the Fed will continue to hike rates next year to make as if it was acting responsibly, while continuing to pump in liquidity through the back door. in the end we will look at a creation (the stock market) worthy of the term 'monster'...not that it isn't worthy already to be called that, but if Favors calls for the bubble to keep on going, i wouldn't discount the possibility...
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