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

To: clochard who wrote (42820)	8/8/1999 9:53:00 PM
From: pater tenebrarum	Read Replies (2) \| Respond to of 94695

Steve, this is the crux imo. we have now the NYA and the SPX hovering close to their 200-day ema's, and foreign investors whose holdings have suffered quite a bit due to the buck's slide may well decide it's not worth waiting whether this support holds or not. foreign inflows into U.S. equities are at an all-time record this year, especially european institutions were heavily overweight U.S. equities up until recently. this equates to a medium term sell signal, as they are notorious for being late to the party. a broker friend in Vienna told me that german funds were buying AOL in May after the initial break. i'm sure they wish now they hadn't done that. if european institutions should decide to cut their losses and run things could get ugly fast.