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To: MythMan who wrote (203)12/2/1997 12:51:00 PM
From: Cynic 2005  Read Replies (1) | Respond to of 86076
 
<<However, the PPT will prevent any "big" crash from occurring IMHO.>>
Pete, keep in mind that the PPT, if it is for real, may have raised the odds of the Big One. It took a lot of dough for the market to recover from 7000 to 8000. Next time, it takes at least that much. Even veteran traders are getting scared about the fluctuations. In time, the PPT will have diminishing affect on the rebounds. IMHO.
Last time we went to 7000 over fears about Asia. This time, if we get there, it will be due to the bleak outlook for corporate profitability, which is a real issue. However, we are still in the denial mode.
-Mohan