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

To: Oeconomicus who wrote (17815)	5/2/1998 1:45:00 AM
From: Berney	Respond to of 94695

Bob, A great quote: "When everyone is insane, 'tis folly to be wise." Paul Samuelson (recipient of 1970 Nobel Prize in Economic Sciences). The last time the Index ran so far ahead of the trendline was April to July, 1997. What happened next: The Index went down and the Index went up, but essentially for the next six months the Index went sideways, until the Trendline caught up with the Index, and then, off to the races again. Just compared to the trendline, I think the market is about 12% over-valued. But, it seems to me that the time to short the critter is when it cracks a trendline, not when its riding high. I think it is not wise to try to anticipate too much. Let the trend be your friend. Berney