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Strategies & Market Trends : The Millennium Crash
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To: Arik T.G. who wrote (1886)1/7/1998 1:20:00 AM
From: bobby beara  Read Replies (2) of 5676
 
Hi ATG, BK is no myth, was reading a story tonight about North Korea and in 8/97 there was a 50 foot tidal wave that destroyed 2000 homes and 123,500 acres of crops - another contributor to the famine.

Today the Korean currency crises may have finally touched our Banking sector with downgrades, even in the face of lowering yields. Bank of America has a nasty H&S - bwdik §¨§ quote.yahoo.com (actually CCI also)

Here is a post that puts it succinctly: Message 3109814

The tech sector and the drilling sector can be rationalized off, but a banking sector bear will raise a big red flag. bwdik §¨§ Stephen Lieb has always said watch the banking sector.

The New Year is a time of new beginnings and change, from the looks of the bond rally on the first real trading day of 1998, it looks like this may be a year people will seek safety. bwdik §¨§ -g-

Bull/bear survey as a contrary indicator screaming sell and put/call ratio is not screaming sell, but whispering. We just made a double top in the McOscillator on Dec 8th and Jan 5th.

Thoughts ATG?

It's hard to believe this weekend will be my 6 month bear anniversary §¨§ Message 1594162 and coincidentally we we around 7800 then and look to be there by this weekend also - talk about going nowhere man -g- How about a 5% sell-off to celebrate.

bb
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