Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: bearshark who wrote (9308)	11/7/1997 7:38:00 AM
From: bearshark	Read Replies (2) of 94695

Take a look at the DJI charts in the WSJ since August 6, 1997. It is almost too perfect to be true. One down leg then about a 50% recovery, the second leg further down and then about a 50% recovery, and today appears to be ready to start the third leg down to a new low. These legs may prove to be part of the first major leg down in a bear market. I am still waiting for 7,000 to be taken out to confirm my suspicions that we are in a bear market. However, if this is the final leg down of the first leg in a bear market it should end somewhere around 6,600. Just before Christmas would be ideal to start the first rally in a bear market. On the other hand, if 7,000 holds again . . . .

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