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

To: Gersh Avery who wrote (19487)	5/29/1998 4:59:00 PM
From: Oeconomicus	Respond to of 94695

Correct (if my 1/2% exp ratio is close to correct), but keep in mind that this includes bonds and MMFs too. BTW, on the subject of funds, the WSJ today said that equity fund cash levels are down to 4.2% (Market Gauge still shows 4.6%) as of the end of April, according to the Investment Company Institute. WSJ says "Stock funds held only 4.2% of their assets in cash, the lowest level since December 1972 and nearly hitting the record low of April 1972..." How's that for a sell signal? BTW, for those who like a historical reference, April 1972 was not quite the top for the S&P, but December was and I think the last surge from October to December may have been driven by the agreement to end the Vietnam war. Another interesting bit of trivia - the CBOE began options trading early in 1973, just in time for more than 40% out of the 49% bear market. I guess the early put buyers and call writers were pleased with their new toys. Bob