Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Don Pueblo who wrote (9461)	11/10/1997 8:02:00 AM
From: Arik T.G.	Read Replies (1) of 94695

The trend of the market is down. OEX has broken 890 support and confirmed. IMO an early 5 points gain in the OEX would be a great opportunity to go short the market. S&P futures tradind now +6 a good short as well. However, SPX over 940 would trigger alarm bells that the 1% gain in Friday just before the close failed to do in my bearish sentiment. A close over 940 will cause me much confusion, and I will withdraw from bearish positions. That, IMO, will not happen. We close down today. Should be down hard, but in light of recent strong surges i'll settle for another 80-120 points in the Dow. KO is headed to lower 40s MCD will meet 41 again GM mid 50s XON looks bad Strong Dow stocks are the dogs- T, EK, did not succumb to recent down trend. It's time the market would trend down without the aid of exogenic bad news. Today looks like no news (is good news) and down market today will increase fear in the hearts of investors. ATG

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