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Non-Tech : Tulipomania Blowoff Contest: Why and When will it end?
YHOO 52.580.0%Jun 26 5:00 PM EST
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To: bobby beara who wrote (569)1/11/1999 7:38:00 AM
From: bobby beara   of 3543
 
#2 NUTZ index will drop 40% over the next week because:

1. AOL added to the S&P also a topping media event.
2. Put/call ratios in net stocks extremely lopsided, bears who have been slaughtered all the way up have finally thrown in the towel.
3. The elliot wave pattern in the internet index shows that we are in a fifth wave blow-off from the 9/1 lows, The minuette count of the final leg up that started last week shows that we could possible have one or two more updays. I believe that this morning will open up and that will be the top.
4. Rampant bullishness on all the net stock threads and confidence that these things can only go higher. People taking money out of blue chips and buying AOL -g-
5. Trading curbs put on by brokers - topping event.
6. Flood of new NETPO's has brought a surge of supply that has sucked up a ton of liquidity.
7. This surge of supply, I believe at this point will take all the buyers out of the market and only sellers will be left behind, with no real solid support until we get back near or below the July High breakout point.
8. EURO competition for dollar denominated assets, both stocks and bonds and the resurgence in commodity inflation will create a negative environment for all stocks.

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