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 (2081)	7/6/1997 3:50:00 PM
From: J.T.	of 94695

Hi Bill, Isn't it amazing what two days (pre-Holiday rally) in a market can do to sentiment, even on this post. See my post #1348 and I stated that if the market took out its highs another 2% to 5% was possible. That equates to 8190 area for the Dow and 945 area for S & P. No question the bulls have their day, heck nuthin' but pay-dirt bullish #'s for the market to chew up and spit out and the Dow goes up 170 for two days..Well deserved, but the bull is getting old, tired and long in the tooth. The litmus test comes in the next two weeks, especially with earnings front, political cacophony, and interest rates bringing up the caboose (takes a breather for a week, no big economic #'s coming out). I will persist in my bearish growl until either the #'s above are decisively taken out or the majority of earnings being reported comes up roses. Part of earnings picture to look closely at is "net margins" (expanding or shrinking) and conference calls after reports come out (is management forecasting slowdown in next 2 qtrs or very upbeat and confident that they can expand revenues and margins). Until then, this bear growls, licks his wounds and goes back into his den. JT

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