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

To: paulmcg0 who wrote (15130)	3/18/1998 6:47:00 AM
From: Tommaso	Respond to of 94695

There have been so many false starts that I have given up any pretense of knowing when the overvaluations will become apparent on the American market. Tokyo, of course, is still down about 60% from its all-time highs and seems quite disengaged from the U.S. Market. The United States markets seem to be playing somewhat the same role for the entire world that the New York Stock Exchange played for the United States in the 1920s. If people all over the world are determined to treat it as a gambling casino there is no telling how much further up it can be pushed--which is not to say that I am a bull. The Federal Reserve has the power to do something about this, but apparently it lacks the courage.