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Strategies & Market Trends : Waiting for the big Kahuna
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To: James F. Hopkins who wrote (21792)7/18/1998 5:14:00 AM
From: jef saunders  Read Replies (1) of 94695
 
Jim, earlier you said that you thought 1181 spx would be
the top...since we broke through that, do you see 1181
as a support now ?

a question i have: in the past years, what month does
the summer rally end? has it ended in july before?
David Plonk had a target towards the end of august,
last i read.

re: market overvaluation
i heard on cnbc a couple days ago that a billion dollars
a day was coming into the market. so it's just supply
and demand. besides, there are still plenty of companies
with low p/e ratios, in teens and even single digits,
with earnings growth. (and lots of the companies with
bigger p/es are reporting large increase in earnings).
i like seeing the large number of new highs and of new
lows both...1998 stock market is selective. the rich
are getting richer. an example of the poor getting poorer
is the soxx...that hasn't been a good way to figure out
where the rest of the market is going.

re: HWP - it was downgraded by goldman sachs last week
expecting them to get hit hard by asia...if your going to
buy a pcmaker, then dell is the clear winner these days.

re: tech analysis: i read throught the comments that you
and bill had made about from a tech standpoint the market
looking bad. i haven't seen it that way at all. the dow
spx and naz all have a very definable trendline when i
look at the 1 month chart.

re: LU overvaluation: i don't know...they're hiring,
and they make million and billion dollar deals left
and right. my chart is also reporting insider buying.
the call i own on them doubled in july.

thanks, jef
.
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