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Strategies & Market Trends : Russian Crisis - Is it a buying opportunity?
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To: Jeffrey L. Henken who wrote ()8/28/1998 11:01:00 PM
From: Gary Walker  Read Replies (7) of 175
 
According to CNBC last week the market is severely oversold. Several momentum institutions are driving this market lower. It's a classic wall street mob mentality. You saw it last October. You saw it during an extremely weak period in June/July 1996. You saw it in early 1996. Each time the market snapped back with a vengence.

These money manager boys aren't dumb. They will drive the market to it's knees and as soon as John Q. public starts to trade stocks for cash, the boys will start to stock up on their favorites. The public then rushes back in to force the market to new highs. There is clearly collusion spoken or otherwise between these freak shows. They are even so bold as to clearly state their strategy, sell the stocks that are going down and buy the ones that are going up.

So far this has been an orderly decline, first the caps, and the now the full market. Breadth is poor but not like 1987.

I'm not the least bit worried about the global situation. Crisises occur all over globe from time to time. Wild speculation and corruption had setup those markets for a decline.

The world markets have been down for years, especially in Japan.

So, I'm concluding that this market is nearly ready for a rally, but we need a boost of somekind of sign from above.

Best Regards,

gw
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