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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: MythMan who wrote (64353)	9/27/1999 9:37:00 AM
From: Real Man	Respond to of 86076

Can't trash everything.... Should convince the FEDs to jack up their printing press...

To: MythMan who wrote (64353)	9/27/1999 9:39:00 AM
From: Real Man	Respond to of 86076

Yep, my poor unhedged KGC Up 20%

To: MythMan who wrote (64353)	9/27/1999 10:05:00 AM
From: Defrocked	Read Replies (3) \| Respond to of 86076

A lower close could kill this market today. There are some institutions selling into this morning's rally and using the proceeds to buy bonds. Watch Friday's high of 1294.4. Hedge funds will put sell stops on the other side of that gap to open new shorts. BTW, IMHO last week deposited the first real seeds of doubt into the marginal bull's mind and will induce some element of profit-taking behavior. The safety bid put back into bonds is being misinterpreted by many stock bulls as positive news. The big move in gold is a warning for further currency volatility. But tech stocks in particular want to "party on" despite the additional Inut IPOs and bottled-up selling pressure from the waiting-period of earlier IPOs and insider sales. And the Inut Xmas rally is likely to be over in October as it has been widely anticipated and touted. The risk/reward ratio of owning stocks looks very unrewarding to me. BWDIK. This weekend, Barron's had a quote from Bernard Baruch that made the "tuning fork" in the back of my brain resound: "The condition of the market [end of Sep'29] could be measured by its wild fluctuations, followed by assurances from every direction that all was well. But I had heard this lullaby before. I knew that the continuity of confidence was beginning to break." IMHO the "continuity of confidence" is indeed beginning to break and all the little fishes are now in the net. Like someone said here last week, the game of musical chairs is about over, with the big fishes already sitting down. BIDKJS.