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

To: Barbara Barry who wrote (16270)	4/14/1998 9:28:00 AM
From: yard_man	Respond to of 94695

Very good observation, Barbara. Good rule for individual stock. One which I recently broke on YHOO. :-(

To: Barbara Barry who wrote (16270)	4/14/1998 9:55:00 AM
From: Kevin Stull	Respond to of 94695

To all BK'ers, Some interesting posts below showing indications of a correction near term: exchange2000.com exchange2000.com geocities.com Another interesting point is the question of market leadership, and what issues will take the markets higher? Up until the last week or so, leadership was exhibited by the blue chips(GE, KO, T), drugs (MRK, WLA, PFE), techs(MSFT,CSCO)and transports (AMR). Since then, these issues are all off their highs and trending down (except PFE and AMR) (using stochastics). The question is which sector will pick up the ball and lead the markets higher? Bank merger speculation and Wall Street sactioned hype of Internet stocks has held the markets up until now. The leadership is tired, PEs are at historic highs, and those who have underperformed (like INTC and IBM) may not have the earnings needed to assume the leadership role. Keep a sharp eye on the bond market.....as long as it stays within its trading range things will stay status quo. Any weakness in the bond market will initiate an adjustment of PEs more in line with expected revenue growth rates (which up until now has been ignored, with the full blessing of WS).