Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Rogue French Trader who wrote (25219)	8/26/1998 5:12:00 PM
From: Oeconomicus	Read Replies (3) of 94695

H&S in what? If you are talking about the S&P, do you mean to say July's peak for the head? If so, we have at least 2 1/2% to go before breaking the neckline (and it ain't a H&S until then), but if we do, wouldn't it project down to about 940? Am I looking too long-term? I'm thinking sideways a bit longer, perhaps until earnings warning season starts later next month. Sentiment seems too bearish - not panicked mind you, just too many people talking about further downside (not to mention acting as if Russia was our biggest trading partner). We need a dead cat bounce in the small caps and the Trannies, and a bit more of a rally in the Dow and S&P (or at least more consolidation) to wash out some of the negative sentiment. IMO, of course. Bob

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