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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: William H Huebl who wrote (42752)	8/6/1999 5:52:00 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 94695

Bill, i have been just looked at some charts of key stocks and the indices on 5-minute bars over the past 10 days and i must say i am alarmed. consider that overseas investors have seen a precarious plunge in the value of their holdings already due to the slide in the dollar. they will look at the SPX and mull the situation over this weekend. they may well decide that it's not worth waiting whether the 200-dma holds or not. in that case you will see a flood of sell orders from european accounts early on monday, which could be enough to start off a panic. on the other hand a short term cycle low was projected for today, so perhaps the market decides to make a stand here; i would then expect to see a two week rally on continuing bad internals before we finally tank. regards, hb