Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: purecntry5 who wrote (11826)	12/18/1997 12:03:00 PM
From: Mike M2	Read Replies (1) of 94695

Now hold on there cowboy, I believe a bear can happen when many expect it because of the unprecedented insanity of this mkt. Based on fundamentals there is no reason for the fundamentalist to capitulate as the fundamentals continue to deteriorate. Much of the new era propaganda is being exposed for what it is-nonsense. The SE Asia economic miracle now appears to be a repeat of the Japanese Bubble economy. The quality of reported earnings clearly shows that the major factors boosting earnings growth wil not have the same impact on growth going forward. Specificly, lower interest expense,lower tax rates,options accounting, lower depreciation expenses, other accounting gimmickry. I am not saying these factors have disappeared but there impact of earnings GROWTH is largely spent. While the bears have every reason to be frustrated there is no fundamental reason to capitulate as our case gets stronger on a daily basis. For the technicians who can navigate through this mine field good luck and God Bless you have my respect and admiration. Mike

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