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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 (46885)	4/13/2000 1:37:00 PM
From: pater tenebrarum	Read Replies (2) \| Respond to of 94695

Bill, you shuldn't be surprised...it's either the NAZ, OR the Dow. there's simply not enough liquidity to keep up both of them. the market is drowning in a flood of paper... the 'this time it's different' phenomenon always recurs as manias near their end. in early March,on the very day the NAZ made its all time high, there was an article in the WJS saying: "Countless bedrock American investors have undergone a transformation in recent months. for a long time, they sneered at the new paradigm. now these conservative investors feel stupid - and worse, poorer for it. they have started buying tech stocks. Others are going a step further. Conservative people, some in their 80's, are walking into their financial advisors offices and demanding that their mutual funds or their managed portfolios begin to include a piece of the soaring new economy". that was the ultimate warning - the last hold-outs had given in to the mania, just in time to be left holding the bag. at the same time, many hedge funds have ditched their former strategies and become long tech stock funds....now they are 'feeling pain', meaning they haven't sold yet... regards, hb