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Pastimes : Ask Mohan about the Market

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To: Cynic 2005 who wrote (13639)	1/30/1998 4:07:00 PM
From: Cynic 2005	Read Replies (3) of 18056

Warning to you all bulls, this may very well be the kiss of death for the bull: Fundamentally I am as bearish on this market as ever. But, if the market doesn't pull more than 0.8% for two consecutive days, I am inclined to turn bullish for the short-term - technically that is! The main factor for my rationale is Greeny. He just gave a green-light for more irrational exuberance. No, I am not talking about steady interest rates. I am talking about his silence on the level of speculation and valuations in the stock market. Let me explain my logic behind the 0.8% pull-backs as a guage for the reversal: I would like to think that the huge rally of the last few days is mainly short-covering and some fund buying. However, there is no telling how much more dumb money is still sitting on the sidelines to be put in the market on an upside break-out. My guess is not much. But, we never know. So, I am pressuming that lack of liquidity should be indicated by a couple of sharp back-to-back pull backs. If they are not, this market might have moer liquidity than the water molecules in the Pacific Ocean. -g- Just thinking out loud. -Mohan -Mohan

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