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 (2243)	7/10/1997 12:09:00 PM
From: J.T.	of 94695

hi Bill, The market's rotation going on in the last 5 to 7 trading days is very alarming and taking on rapid proportions of many dimensions. First, tech leadership finally played catch up with the rest of the market which was very positive for the market. Interest rates and Mr. G.s inaction also put fuel to the bull catching updraft fire. Drugs and financial (even cyclicals like PG)stocks have been the big leaders in the latest run-up which has had positive intonations across the board. Lastly, the oex put-call ratio has remained fairly bearish (which is a contrary indicator) and the shorts have continued to cover or close-out positions (as AQ has previously mentioned). With all of this positive spin, now you ask "How JT can you possibly be bearish now and what indicators are you looking for for there to be a change in the winds??? Let me share why next post. JT

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