Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: HairBall who wrote (23357)	8/5/1998 4:27:00 PM
From: P.T.Burnem	Read Replies (2) of 94695

The Dow was 1000 points off its all-time high when the market made an abrupt turn for the better. No apparent news to account for the reversal of fortunes (did the Feds intervene?). Should make for some soothing headlines: "Worst May Be Over for Dow Say Market Pro's". "Abby Cohen: Stocks Undervalued. Dow Rebounds up 50 points". It's hard to tell how long the rally will last, but I'd not be terribly surprised if the Dow retraced half of its recent losses (i.e. 500 points from today's low) before the Labor Day. Dow 9000 is less likely but not out of the question. I can't see the Dow making a new high between now and the end of the year. PTB

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