Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: James F. Hopkins who wrote (22238)	7/24/1998 12:52:00 PM
From: P.T.Burnem	Read Replies (2) of 94695

I think we maybe wind up down, and then maybe gap up again Monday. My guess is we find the low sometime today , or on the close. I think money managers are still smarting from heavy blows delivered by "core holdings" like CA ("growth"), BA ("value"), and, to a degree, HWP ("tech"), and will be reluctant to take big positions ahead of the weekend. The market appears to be following the Black Monday pattern: down big on Thursday, down big on Friday, and a huge sell-off on Monday (I am not predicting a 20%/day drop). All my stops, with the sole exception of SPLS, has been hit and my bids are on hold. PTB P.S. On the news wire: Gen.Lebed has threatened to take over a strategic missile site in Siberia if the Russian government does not pay what they owe to the military. Just imagine what would happen to the market if such an event ever occurred.

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