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

To: James F. Hopkins who wrote (19724)	6/3/1998 6:35:00 PM
From: Monty Lenard	Read Replies (1) \| Respond to of 94695

Jim, neither short nor long. Just sitting on a pile of cash waiting for YOUR signal. <gg> I am just not sure that I can execute fast enough to get in & out; and, I don't know if I want to be in for any length of time. Every time I think I have found a bottom on a stock(after it has bounced a time or two) I am proven wrong. I have been fortunate enough to sell quickly enough over the past month or so and keep the meager profits earned; but, watching the action in the last week or so I was just thankful I did not have to execute. This thing can move faster than the Word of God. Monty

To: James F. Hopkins who wrote (19724)	6/3/1998 9:29:00 PM
From: Monty Lenard	Read Replies (1) \| Respond to of 94695

James, We didn't loose as many to the 200 DMA gremlin as I would have thought based on todays action. Todays above 200 DMA was 325 which means we only had 6 more go under since yesterdays was 331. Monty

To: James F. Hopkins who wrote (19724)	6/3/1998 10:57:00 PM
From: Oeconomicus	Read Replies (3) \| Respond to of 94695

Jim, don't be so sure that the market will rally if bonds do. After listening to Cramer on Squawk Box this morning (He's a pretty good spokesman for what's on the mind of the Street, wouldn't you say? Certainly not an against the flow, contrarian outsider anyway.), I think the Street is beginning to worry about a recession. They're not convinced, certainly, but they're quickly coming around to the thought that earnings will be flat at best for several quarters. Yardeni predicted as much the other day and Cramer expressed concerns about it this morning. Anyway, I think the market will be more spooked by signs of slowing than growth in the economy. Transports, Utilities and bonds are trying to tell us something. Even LIBOR rates (six months to a year) look like they are sliding down a little. Either they aren't worried about the Fed any more, or there's less demand for money. Goldilocks' "just right" porridge is getting cold. Bob