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Strategies & Market Trends : The Stock Market Bubble

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To: Michael Collings who wrote (163)	5/6/1998 8:29:00 AM
From: Defrocked	Read Replies (2) of 3339

RE:"87 didn't have any big event or blow off top either." Many observers attribute 87's decline to the continuous debunking of the dollar by then Treasury Sec. James Baker in conjunction with the Louvre and Plaza accords. A "run" on the dollar the week Oct.15th spilled over into bonds(10.7%) and then into stocks. Besides trashing the dollar, Baker also "dissed" the German's before a Oct.20th Sat. int'l. monetary meeting. I do agree with you that anything unexpected can trigger a substantial downturn with avg. price-to-books at 6.0 and such an event may or may not be preceded by a "blowoff", especially when so many are looking for the right time to get out.

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