Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Rarebird who wrote (21638)	7/15/1998 1:47:00 PM
From: P.T.Burnem	Read Replies (1) of 94695

Failure to understand why we are at new highs: LIQUIDITY. Failure to understand why the breadth is narrow: typical in the next to last stage of a bull market. The last stage is the Blow Off. Then a very meaningful decline. Try thinking and use analysis rather than becoming emotional resentful prisoners of the past. Speaking of rational analysis: narrow breadth is caused by the lack of liquidity. There's just enough liquidity to float the Nifty Fifty along with major indices leaving the rest of the market high and dry (i.e. Russel 2000). That said, I agree that the market may be entering into the blow-off phase. If so, one could make a bundle over the next several weeks by buying selected blue chips trading near their all-time highs. PTB

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