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Strategies & Market Trends : The Millennium Crash -- Ignore unavailable to you. Want to Upgrade?

To: tekgk who wrote (1456)	10/28/1997 3:07:00 PM
From: Joss	Read Replies (1) \| Respond to of 5676

Hi Tekgk, <<It takes time for 15 years of bull market psychology to change. Earnings will be impacted by recession in Asia and this will keep a lid on the rise. I think that world wide money flows are a factor that are at least as important as earnings. Net inflows from foreign CB's stopped in June. The flight capital has moved already. Now it will up to domestic investors to hold up a market with an average PE of 23. There are also lots of new issues coming out (about 5 billion a week in the last few weeks). It will be hard to play this market long or short until the psychology changes.>> I agree, Look at the 72-74 markets. Slow slide with bear and bull traps all the way down. If that is what we get, it will be harder to make money on anything other than a couple week move. Those who have learned (long or short) to take a position and hold it get damage done to their net worth. I am still hopeing that this will not be our long term market. Steve

To: tekgk who wrote (1456)	10/28/1997 4:25:00 PM
From: kahunabear	Read Replies (2) \| Respond to of 5676

tekgk, They say people were lining up to open mutual fund accounts today ? The liquidity seems to just keep on coming. You're right though, if the public ever shifts out of stocks and liquidity dries up, watch out. It seems like long time bulls would want to get out on this bounce and preserve their gains. The next couple of weeks should be interesting. I thought today would be an up day but was surprised at how big it was. I thought it would be around 150 points. It was an all out buy the dips, nothings wrong, complacent reaction. Britt