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Strategies & Market Trends : The Stock Market Bubble -- Ignore unavailable to you. Want to Upgrade?

To: Michael Collings who wrote (163)	5/5/1998 6:31:00 PM
From: Hiram Walker	Read Replies (1) \| Respond to of 3339

Mike, I agree with you, this is going to be a distribution top,and maybe if the dollar reverses itself, the foreign money will stop flowing in. But the money is rolling in from around the globe. Europe has to collapse first,and the EMU has to cause some of the problems. Yep, I was out of Japan in 1986,too bad,it had a parabolic run not unlike this one.Everyone was saying the same things,new valuations,etc.. Time will tell,not a good time to invest though. Hiram

To: Michael Collings who wrote (163)	5/5/1998 8:51:00 PM
From: Roger A. Babb	Respond to of 3339

Michael, would you short now? Or just sit in cash?

To: Michael Collings who wrote (163)	5/6/1998 8:29:00 AM
From: Defrocked	Read Replies (2) \| Respond to of 3339

RE:"87 didn't have any big event or blow off top either." Many observers attribute 87's decline to the continuous debunking of the dollar by then Treasury Sec. James Baker in conjunction with the Louvre and Plaza accords. A "run" on the dollar the week Oct.15th spilled over into bonds(10.7%) and then into stocks. Besides trashing the dollar, Baker also "dissed" the German's before a Oct.20th Sat. int'l. monetary meeting. I do agree with you that anything unexpected can trigger a substantial downturn with avg. price-to-books at 6.0 and such an event may or may not be preceded by a "blowoff", especially when so many are looking for the right time to get out.