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

To: Zeev Hed who wrote (13580)	1/29/1998 8:31:00 PM
From: Simon	Respond to of 18056

The S & P seems to have replaced the Dow as the leading big mover. It tried to break out today and fell back. The Trans. avg. tried to break out and fell back. These 2 could see saw around for a couple days and break out or they could fall back.If they break out we could be in for one hell of a rally. If they fall back, maybe the forward looking comments are starting to sink in. I doubt if AG will tolerate a wild blow off rally at the moment. The world has enough troubles without dealing with a blow off rally ending in a 1000 pt crash that will screw up one of the few stable economies in the world. It would be easier for AG to start shorting the S & P futures mkt than having to put up billions of dollars to shore up Wall St. if the market blows out one day. He has been there, done that. A blow out at these levels, with all the derivatives floating around might make 1987 look like a picnic. I doubt if the Merc. exc. in Chicago could handle a big crack. The locals might all just walk out the door and go home for the day. Then what? But then who the hell knows what is going to happen.