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

To: KM who wrote (44105)	10/19/1999 9:36:00 PM
From: pater tenebrarum	Respond to of 94695

Truff, these squeals were well founded...btw, i began to turn bearish in early July when the market rallied on the first rate hike and put/call ratios were at all time lows. i'm not a perma bear but my cautious stance since then sure has paid off, even though i sold some of my medium to long term positions a tad early. once the indices catch up with the collapsing a/d line and i see a convincing wash-out i'll turn bullish again...alternatively i'll do so if the market action convinces me the lows are in already. at the moment i'm not yet convinced, but i have started to buy some stocks that are really bombed out and look to be decent value plays. we'll see how the market handles the trade numbers tomorrow...if it manages a decent rally on bad numbers i'd vote for the rally to have some legs. but i'm still very concerned about the bond market, which is the main reason why i can't just turn unthinkingly bullish here. i still don't see a true wash-out in bonds either...too many signs point to still lower prices. and the high p/e stocks that carry the stock market for the most part (i.e. the 30 or 40 stocks that actually go up during the rallies<gg>) have no use for higher bond yields. regards, hb