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Pastimes : Ask Mohan about the Market

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To: Zeev Hed who wrote (9880)	12/1/1997 4:16:00 PM
From: Bearded One	Read Replies (1) of 18056

What are the fundamental moving this market? Well low interst rates and reduction in fear of the Asian collapse (justified? I am not sure, but it seems that to the extent that treasuries are being sold to reliquify the Asian systems it is done gradually and the market is absorbing it well). It's not reduction in fear of the Asian collapse. It's that the collapse occured last week and there's no real news this week. As a character on a popular TV show says, "Bygones. Fast Forward." Nowadays, no news means an upward movement. The entire stock market is one giant momentum play right now. We all know how momentum plays end, but we just don't know when.

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