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Strategies & Market Trends : Waiting for the big Kahuna
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To: William H Huebl who wrote (29568)9/30/1998 8:43:00 PM
From: bobby beara  Read Replies (3) of 94695
 
Bill, didn't I say you should be selling Yom Kippur. This is the day of atonement for the markets -g-

Look at the Walmart chart. Fed lowered rates because he sees a recession and the DOUBLE TOP that I talked about on Walmart struck today. Greeny should have started lowering rates months ago. He underestimated the consequences of the Asian mega bubble on the world economy as did John Q. Bubble Head. LTCM is symptom of the financial management system gone awry - high stakes gambling by noble laureates and high stakes gambling on the part of Credit issuers giving your pet fido a 50,000 credit limit.

.25 or .50, greeny only did .25 because a .50 would have seen an immediate crash, .25 the landing will be somewhat softer because of the indecision - maybe not.

The sentiment readings are bullish on a short term basis, HOWEVER we have 3-7 years of unbridled optimism and buy the dipsterism - NOT SEEN since the 73 top - to crush, and now that major trendlines have been broken on NYSE, Nasdaq. I think this is the time.

Today we broke the uptrendline on the SPX, however most of the other indexes are on the trendlines. A down day tomorrow will cement the next move down to test or break 7400. I believe break.

bb
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