Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: William H Huebl who wrote (18328)	5/11/1998 9:13:00 PM
From: Bull RidaH	Read Replies (2) of 94695

Bill, I believe the preponderance of the evidence still rests in favor of the bull camp as well, and believe the wall of worry that's being created with bonds, Microsoft, etc., will crumble away in the next rally. 30 yr. Bonds appear to be nearing the completion of the "flat" (3-3-5) correction that began in early January. I believe the end of the bond correction will be marked by the completion of the 5 waves of C that began on 4/3, as seen clearly on this chart :http://www.dbc.com/htx/dbc/squote.htx?SOURCE=htx%2Fdbc&TICKER=%24tyx&tables=chart_table Looks like the 5th wave of C began in early May, and the yield could reach the 6.125 to 6.2 area before reversing to continue the multi-year march lower. I believe equities traders will recognize this being the termination of the 4 month bond correction, and near term divergence will continue and should be viewed as bullish for both bonds and stocks. On an aside, I don't think the bearish case has any strength until the uptrend line on the Dow Indu. daily chart that connects the low of 4/1 and the closes of 4/28 & 29 and the lows of 5/8 is taken out to the downside. This would require a close below 8980. Regards, David

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