Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: GROUND ZERO™ who wrote (11220)	12/10/1997 9:53:00 PM
From: bearshark	Read Replies (2) of 94695

Hi GZ: From my own humble lines and charts, I have an important support line at 7900 on the DJI trending upwards at about 20 points per day. This level needs to be held for the continuation of the rise from 7400. I also have a moderate buy signal but it is not as strong as the one of November 12 (DJI 7400). Now looking at Asia tonight, they appear to be sinking into the sea. However, if we hold at the 7900 level tomorrow and bounce off of it, then I am satisfied we can continue the rally that was started at DJI 7400. If we do not hold at 7900, Bill may be right about Friday. Looking at things fundamentally, I think the market will need to accept the complete collapse of the South Korean economy. I do not think that has been worked into our market yet. If the international community can scrape something from that country together, South Korea still faces a massive restructuring of their industries that will requre years, much money, and much pain. What a mess.

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