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Strategies & Market Trends : Waiting for the big Kahuna
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To: James F. Hopkins who wrote (27463)9/11/1998 2:58:00 PM
From: Tom M  Read Replies (2) of 94695
 
Jim re:<significance of Oct 27

If I remember correctly, it was Monday Oct 27 last year that we had the big 500+ point drop. I'm not by any means targeting anything as likely on this Oct 27, but just expect an "Oct 27 1997"-like day, if the funds need to do some selling of those bloated blue chips by the end of "this" October. I was under the impression the selloff on Oct 27, 1997 was fund managers racing to lock in their profits for the year & their bonuses before the end of October.

I was asking if you could confirm that the end of October was an important fund accounting date that they use to distribute gains.
If so, it would make sense they'll try to run the blue chips up one more time before then for a better exit price (seems most analysts have been saying they like the large caps lately, wink, wink - in other words, please pump them up for us so we can dump them)

Just wanted other observations of this anticipated event.

see ya,
Tom
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