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

To: RLM who wrote (8787)	10/31/1997 5:42:00 PM
From: Bilow	Read Replies (1) \| Respond to of 94695

Stocks haven't been going up since Tuesday. They have been more or less steadily declining. Each day's new low was lower, and each day's high was lower than the previous day. Are you saying that because the market didn't crater under these circumstances it must therefore go up? It seems to me the trend is clearly down. This is true if you look at it day to day or week to week. The wreck on Monday was preceded by a series of lower lows and lower highs. Why is it that the series of lower lows and lower highs we are now experiencing is going to lead to an up day on Monday? Please expound at length. Note that the American people, particularly the investors, already assume that everything said by Clinton is either unimportant or a falsity; I really don't see where he could possibly convince anybody to buy stocks. Speaking for myself, I wouldn't buy a used dollar bill from him, much less a car. -- Carl

To: RLM who wrote (8787)	10/31/1997 6:12:00 PM
From: Defrocked	Respond to of 94695

You may be right and the market could even rally in the face of downward revisions in consumer spending and earnings over the next quarter. I'm willing to be patient on this one. As one Far East analyst said yesterday,"Potentially calmer waters are ahead. But there is still a shoe or two to drop in Asia." I just want to be sure its not one of those 16 Ton Bozo the Clown shoes.<g> A lot of Bulls have reloaded this week despite the increased volatility. Maybe I'm too cautious but my "tuning fork" is going off and I have to maintain profit protection (OEX puts) here. After all, when I cross the street I look both ways, even if it's a one way street, and especially if there's a lot of traffic. Seems to me the Bulls could get tired of buying opportunities pretty soon. All it takes now is one more bad surprise. BWDIK. Good luck all.