Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Tom Trader who wrote (2593)	7/17/1997 1:16:00 AM
From: Roger A. Babb	of 94695

Tom, my prediction was made back in February for a top of 7500 in July. In June I revised the prediction to 8000+ on July 15th. I picked July 15th because I figured the good earnings would be announced by then, followed by the companies with not so good earnings. I see a correction to 6500. My reason for picking the top now is that everywhere I go I hear people talking about their great stockmarket trades. In our company retirement fund almost everyone has switched to the most aggressive funds, no bonds. I hear people at church who are borrowing money on home equity loans and even credit cards and then using that money fully margined to buy stocks. This is crazy. I don't think the current cash inflow to the market can be sustained any longer. The credit cards are getting full and the bills are coming due. One little dip and these folks head for cover. And all it takes is a phone call to switch those 401k investments back to the money market. It will come down hard and fast with today's "high flyers" in the lead.

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