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

To: bobby beara who wrote (11481)	12/13/1997 10:46:00 AM
From: GROUND ZERO™	Read Replies (1) \| Respond to of 94695

Hi Bob, Thanks. The bear coil was so obvious, but even I bet against it. I just couldn't believe my eyes. The SPX now also looks terrible. I can see a weak rally also, if any, and I bought some solid companys over the past few days on the hedge that the surprise will now be to the upside. If this coming mythical rally fails, short is the place to be. The only caveat is that the indices are still above their major support areas and the broad bull picture is still intact. On the NAZ especially, we may just be going through a 9-10 month trading cycle low with a violent and climactic selloff. This happened early in 1997 and before that in mid 1996. If that's the case, then it will be business as usual for these markets soon enough. As far as the IMF and those other big money boys meeting, it may just be a photo op to give the public the appearance of "see, we are concerned and are willing to help." Anytime politicians help, they only make things worse. Maybe Korea should just declare bankrupcy and start over. A group of international politicians bailing out any country that needs help sends the clear and dangerous message to other countries that there will always be a safety net. The other side to that issue is that perhaps these boys can really intervene and "save the world" from impending doom, probably a great global depression. This, in fact, may even be the case as a result of this forthcoming meeting. If so, all the markets will rally like fireworks. This is my hedge bet. If the meeting and their outcome fails, oh well... While we're on the subject, I think that the Hang Seng and Nikkei will find support here and put in a double bottom. All the markets will probably bottom at about the same general time since they're all so interdependent, if they do bottom at all. I'm still long those two markets and plan to wait it out. Have a good one. GZ