Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: OVETUS who wrote (26881)	9/8/1998 12:18:00 PM
From: AlanH	Read Replies (1) of 94695

OVETUS, Here you go... Wall Street stocks ease off highs in late morning Wall Street stocks easing off highs in late morning. Financials still very strong. Dow up 244 points, 3.2 pct, to 7884. Nasdaq up 62 points, 3.9 pct, to 1628. S&P500 still above 1000, up 27 points, 2.8 pct, at 1001. Advancers 6-1 to decliners on Big Board. Russell up 3.5 pct to 359.29. Long bond off 22/32 to yield 5.33 pct amid shift back into equities. Of course... all that cash parked in LONG TERM bonds is now flooding back into equities. The reversal in bonds must be caused by stocks. It would be absurd to imagine that bond traders already factored a rate reduction, and have now erroneously read AG's words to mean, "Not so fast!" (Alert: Bond traders, please read the Press Releases.) Nevermind US$ valuations. <g>

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