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

To: Bonnie Bear who wrote (8482)	10/29/1997 9:09:00 PM
From: Defrocked	Respond to of 94695

Hello, Bonnie...just short anything you want, get your mortgage refinancing ready, and wait for housing prices to fall, soup lines to form, old relatives calling you up for help.... :^( Well, somewhere there will be a bottom but it won't be for a while. I'm closing down now and will watch CNBC night action in HK which promises to get ugly again. First one last true story from today: On an elevator today I overheard the elevator operator of a posh building tell a tenant that he was angry with himself that he didn't buy IBM Tuesday AM because he KNEW the market wouldn't go down. I almost puked! This guy has no business buying IBM or any other stock if he doesn't believe that he can lose 50% of his money which could take 15 years to get back his initial value. The "mkt.timers" that bought Tuesday and Wednesday are going to try to capture bargains time and time again over the next weeks and until they are "punished" enough and learn real risk analysis I am out of this market! Good luck all from a former rabid bull.