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Pastimes : The Naked Truth - Big Kahuna a Myth

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To: Joseph G. who wrote (4711)8/29/1998 12:50:00 PM
From: HH  Read Replies (1) of 86076
 
I agree, the fed probably will stand pat and wait and see.
They always have PPT to try to soften too rapid a decline in
equity values.

P/E expansion and now P/E compression. Likely scenario
could be we trade down to 20% correction level then
"bear market" confrimation and then some climax selling
that takes us -30% total on big cappers.

then , go nowhere for 12 months until eps either shows re-growth
or continued softness. Could be a long and boring 1999.
Maybe write puts that year on a small scale and try to
make little bit at a time.

HH

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