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Strategies & Market Trends : Stock Attack -- A Complete Analysis

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To: Judy who wrote (15320)	9/2/1998 12:05:00 AM
From: FJV	Read Replies (2) of 42787

Judy, If one takes a look at an overlay of the BKX on the Dow during this bull, the relationship is obvious. Without the big banks, the market is dead. Tonight's news about CCI and its Russian problems is the latest debacle in a series which will bring the sector to its knees. Fundamentally, the credit bubble has burst. The overcapacity it has spawned has set in motion a deflationary spiral which will be very difficult to overcome. Technically, the BKX will cross the Dow to the downside very soon(vis-a-vis % gained from baseline est. in 3rd quarter of 1994). This will very graphically illustrate the last nail in the coffin for this terminally ill bull market. JMHO. Franco

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