Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Lee Lichterman III who wrote (25613)	8/29/1998 6:50:00 PM
From: Bull RidaH	Read Replies (2) of 94695

Lee, You wrote: "Jerry Favors thinks we will get a squeeze the shorts type temporary rally..." The huge rally we had from the globex Friday morning low (1019), to the Friday morning high (1056) makes trying to play this prediction much more treacherous, as a 300 Dow point equivalent short squeeze already occurred. That's not to say another one can't come along, but betting on a 2nd one happening is much riskier than betting on the first. Favors has also vehemently stressed that the secondary rally that occurs before all crashes happen was confirmed as being concluded when 8270 gave way on the downside (The secondary rally's high came last Tuesday morning, 8/25). Bottom line... We're in a period of time for the next 3 weeks (right into option expiration) where a crash phase can begin at nearly any moment. For all interested parties, I would read the following two links very closely, with calendar and charts in hand, and make preparations accordingly. Message 5387413 Message 5622828 And I'll throw this one in for good measure: marketweb.com (You'll have to select Financial Commentaries, then Jerry Favors, for the pertinent info) Anyone covering shorts/holding longs for the next 3 weeks has a propensity for risk seeking that I no longer have. Why don't you just go find a perfectly good airplane to jump out of instead? Regards, David

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