Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: HairBall who wrote (33660)	11/14/1998 10:12:00 AM
From: donald sew	Read Replies (3) of 94695

LG, >>>>>>>> Well, me thinks that this coming week will be the week that reveals weather this current rally is a resumption of the Bull Market are a Bear Market retrace. Can't wait to get this over with…<g> <<<<<< Thats how I feel. Even if Greenspan cuts rates I feel the upside is limited and should not set new highs above 9400. Im still sticking to my trading range, although it will just shift around. If we get/stay in the 8900-9000 range just before the FOMC meeting, - I will not go long if the rates are cut, but will if we are in the 8700-8800 range. Sure we will move up some more if the rates are cut but for the short-to-mid-term (within 30 days) I feel the upside limit is around 9100. There could be a stronger rally later that runs into the spring, but I do not see a continuation of the bull run, and until the major indexes set new highs, I will stick to my range trading trend. The BKX,XAL,TRAN are still below their recent trendline. Lets see if if/when they get back above. If they don't, it would be negative technical signals which could lead to more ominous things. seeya

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