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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: Zog who wrote (17835)	9/23/1999 5:02:00 PM
From: Cynic 2005	Read Replies (1) \| Respond to of 18056

As my wife might say to me today, show me the money! -g- This level is very critical for stops. If what we saw is only a 'running the stops' sell-off, the markets could go back-up in a zippo. The G-7 meeting over the weekend could give them enough ammo for that. OTOH - I have this sense that nothing will come out of the G7 meeting. Summers' pompous attitude towards Japanese could irk them and make them flip a bird. I honestly think that the Japanese Government is covertly urging their institutions like insurance companies to repatriate funds from US as they very well know how quickly things can go wrong in a bubble. Add to that, the Brits are also talking tough and so are a few prominent Europeans figures. The net effect is seen in dollar slump. It is onething to win by betting against the bears on the Myth, and quite another when a lot of international heavy weights are demanding action against speculation. Where have we heard that before? -g- For the markets to charge higher, where does the dough come from? A lot of churn, rotation has happened since April. A lot of day-traders were already taken to the cleaners and credit is getting tighter. Given all these I think that there is a 90/10 chance that this sell-off today is NOT fake. Any bounce from here which might cause the illusion that this was a run-the-stops sell-off will be short-lived. IMO. Later.