Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: GROUND ZERO™ who wrote (28581)	9/22/1998 8:51:00 AM
From: Lee Lichterman III	Read Replies (2) of 94695

So G-span is wrong, the US is an island of prosperity, the world economic situation is melting down but the old immigrants were right, the streets here are paved with gold? Well shoot, I need to go bet my house on calls then <g> Just kidding, I do see many bullish patterns on the charts but I think those that say the world situation is already priced into the markets are not looking deep enough. We only dropped 20%. Now that may sound like allot but 20% from "perfect" conditions and the conditions that exist now are allot different, more than 20%. We are staring at negative growth on the S&P so what do we do, make the average PE 100? Earnings are dropping like flies and yet stock prices continue to go up again. I agree that the fund money is causing much of it but it can't continue much longer. The 30 year just hit 5.15%. Something will have to give sooner or later and the only reason Japan went up is that te government threw pension money in near the close to prop it up. Reality will hit this market sooner or later and the later it is, the farther the fall will be. BWTHDIK Lee

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