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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 (10243)	11/23/1997 10:48:00 AM
From: Joan Osland Graffius	Read Replies (1) \| Respond to of 94695

Bill, >>need below 20 on VIX to signal mega move up What is you definition of mega move up? Looks to me like VIX does fairly well between 20 and 25, but we are not there yet either. Joan

To: William H Huebl who wrote (10243)	11/24/1997 4:49:00 AM
From: Arik T.G.	Read Replies (1) \| Respond to of 94695

Hi Bill, Feels good to post under the comforting embrace of general agreement, and disagree on technicalities. I share your view of "rational" valuation for the Dow being 30% lower then current market prices. 6000 as a benchmark IMO. Since I see no way under current market conditions that the Dow would reach that level without MAJOR repercussions- starting a snowball downhill- the 2700 number is as good as any in the range between 1000 (worst case millennium crash scenario) and 4500 (which I believe to be first target price, taking back all that was gained in the 3 years bull). BTW- Back in Aug I claimed we're already in a down trend and you said trading range. The chart proves that you were correct- the down trend was short lived and SPX 900 proved to be a strong bottom of the channel. A wide channel, but generaly a sideways motion of the indices. ATG ATG