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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: Bonnie Bear who wrote (11305)	12/12/1997 7:11:00 PM
From: Real Man	Read Replies (3) \| Respond to of 18056

Notes from a Bull (g) I would be very cautious shorting the market at these levels. Levels on the indexes are within the steep bullish channel right now. This channel started 2 years ago. I defined for myself technical levels below which a breakout from the recent 2-year bubblish bull becomes certain. After that, one can short the farm, since the DJIA is 100% overvalued - long way to go down from 7,400. I would think 2500 for DJIA is the proper minimum for a bubble this size. But the FED won't sit and do nothing. I'm 20% short, 80% cash. Will buy calls on Bill's trigger. NASDAQ: 1400 SP500: 900 DJIA: 7400 Also: I'm watching the buck. If you see the buck weakening against Europe or Yen, foreigners will sell bonds, with all the horrors this will bring. So far the buck is very robust. Especially interesting to watch Yen/$, since the Japanese hold a lot of US debt. If the Yen starts appreciating again -here we go. I don't expect this to happen now, though. Nasdaq has yet to test 1400. BEARX will appreciate - since Tice is mostly short tech stocks. -Vi