Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Robert Graham who wrote (18906)	5/21/1998 12:34:00 PM
From: Haim R. Branisteanu	Read Replies (2) of 94695

Bob I would agree with most of your detailed posts, this one included. My observation to the market movements before an holiday is mixed at best and depends quite a bit if you are in a downtrend or uptrend. Ususally the market moves opposite to the predominant trend. As to the present situation I will define it as a state of confusion. Since the last week of March the indexes moved in a very narrow range of 5% or so. It seems to me that we are in a distribution phase, and the sharp moves, without real news, in each direction may explain it. Therefore being is cash will be more advisable that to trade and make your broker rich. Money market funds still give you 4.5% a year. Perserving capital is more important than the posibility of making profits <ggg> which in today undecided market limits you to relative small scalpings. Personally I do not feel comfortable going long at this juncture but the prevalent negative sentiment makes the market prone to sharp spikes upwards such as yesterday for non-event news. Those are my 2 cents. BWDIK Haim

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