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

To: Defrocked who wrote (11853)	12/18/1997 7:32:00 PM
From: bearshark	Read Replies (2) \| Respond to of 94695

Thanks Defrocked: I think the Fed may get an opportunity for some serious action within a few weeks--maybe by the 16th of January. I now have a bear market confirmation in the NASDAQ with a projected low from 896 to 1258. I have had a strong oversold condition in the market since last week--and nothing but a puny rally. A weaker oversold condition lifted the DJI by over 700 points last month and the same rally took the SPX to new highs. Neither of these two indexes are close to giving a bear signal now. They have to drop significantly to do that. All the yappers in New York are now jumping on the bearwagon. Mr. Acampora (of 10,000 in 1998 fame) jumped on today. Eventually the individuals who paid attention to these guys on the way up will pay attention to them on the way down. When that happens, we will have a bloodbath. If we do not get reivestment in the market within a handful of days in the new year, we are going down--hard. If Mr. Greenspan tries to tame what is underway, he will learn how small the Fed really is.