Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: yard_man who wrote (26207)	9/2/1998 11:20:00 AM
From: James F. Hopkins	Read Replies (2) of 94695

Tippet; I'm not sure if the real top came in July or back in April it depends on what your looking at. The index in July made a high but it didn't take the small caps up with it, as for total market cap I think April was the high, but I have to re-check this to say for sure. Just the same I'm still of the notion that total market cap ( is the market ) not the indexes. As the indexes can be skewed several ways, like it was the top caps that ran it up in July. In one way that helps prevent a total melt down, as if the smaller ( thinner traded ) stocks were to cause it to peak & then people tried to get out at one time what we saw Monday would be minor compared to the kind of drop it could take. --------------------- Looking back it seems most of the market was prepared for a pull back , money has stayed in the more liquid issues even since last OCT. Except for the tulips of the internut sector. --------------- Today indicators are very mixed, with both the bulls and bears catching their breath. <G> Jim

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