Waiting for the big Kahuna Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Waiting for the big Kahuna

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Bull RidaH who wrote (23039)	8/2/1998 1:28:00 PM
From: Philipp	Read Replies (1) of 94695

David: Thank you for your analysis; I seem to have misread your underlying assessment. Your various resistance level will be very useful; they pretty much agree with the resistance levels I see in the chart. Once the 1070 (SPX) range is broken, I feel that the market may go into panic mode since this violates the buy-the-dip paradigm of recent years, and so I am not sure whether the otherwise strong resistance just below 1000 will provide more than a short respite. People are often comparing the present situation to 1987. It seems to me that the market now is much more overvalued than it was at that time. Therefore I would expect a 87-like correction as the minimum correction to be expected. Most crashes also seem to have more than one sharp leg down (often separated by an extended period with a flat or rising trend, during which the fundamentals deteriorate in part because of the initial decrease). Where do you and others see the really long-term support level? 550? 600? Cheers, Phil

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next