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 (7295)	10/25/1997 11:08:00 AM
From: Bonnie Bear	Read Replies (1) of 94695

I think foreign investors that were going to sell have already sold. A lot of the stock market drop overseas was attributed to wholescale dumping of stocks in mutual funds. The dumping of mutual funds has started in earnest in this country but seems to be confined to the tech sector, everybody was hit across the board in the various tech sectors. Japan has a lot of money in the US markets, I really could see them selling out big-time on monday as a result of the shipping thing. re gold: I hold no position in gold, if the gold price is locked down by derivatives as tightly as the S&P is held up then it's dead money and a waste of time to chase it, I'm better off with my cash. It just seems like it should be the price of gold should be nearer to the price of platinum. If the hedge was unwound suddenly then it LOOKS like gold would go up to $420 an ounce and mining stocks would double.

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