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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 (8468)	10/29/1997 8:33:00 PM
From: Defrocked	Read Replies (2) \| Respond to of 94695

<==== Bill see previous post. If Hong Kong closes lower again tonight, which I think it will, then all longs jumping in US during last two days will wish they had sold rather than bought. My fear, which I hope is unfounded, is that we will revisit all recent lows by Monday PM. BWDIK. I am now,however, even more bearish than I was throughout 1987 and still have 2/3rds of my OEX puts.One third was liquidated Monday to provide a buffer for the remaining hedge. I also reduced some stock positions today that I had established years ago. Lots of risk in the system now. Too much for me. Funds increasingly in "safe" intermediates and bills. Good luck all.