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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: Joseph G. who wrote (5052)9/2/1998 4:43:00 PM
From: yard_man  Read Replies (1) of 86076
 
Looking at those on the 5-year scale: DJUA has crossed a few times before and DJT also, but DJT has crossed unabiguously now.

Also look at the BKX, banking index.

I think the fact that folks are calling for a interest easing is a very good sign. I don't know how in the world the market can come back from the damage done now. I guess it's possible, but it is a very remote possibility at best.

I hear some talking about a sideways move before we head down (extended into October) -- seems too easy, have such a large drop and then just hang there when it is far below what most would call support.
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