Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Jerry Olson who wrote (2727)	7/19/1997 3:26:00 PM
From: Tom Trader	of 94695

Hi OJ---I agree with everything that you said except >>We'll all know when the BK comes We won't, until it has happened. In fact, most people will be buying the dip -- except this time it won't recover in a hurry. But like I said to Roger, I think this is not over by any means, even though I have liquidated over half my long postions over the past six weeks. I hope that the market does decline next week by 10-15%. It will vindicate what I have been doing and give me a chance to renter at much lower prices. I don't believe that it'll decline by that much --I have posted the levels that I think the SPX will decline. >>A 10% correction in the scheme of things is quite normal and expected. I see no chance of a 20-40% bomb hitting this market<< You are dead on here--and BigK followers should keep that in mind; a decline of up to 15% would still keep the long term trend intact, IMO. But mark my word, when the top is in place many bears will have been suckered in and so will most of the public--it is the ways most tops have occurred. I hope that I'll be fortunate enough to be out--that is why your maid indicator is so important to me:) Have a good weekend

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