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

To: Tom M who wrote (20051)	6/10/1998 1:48:00 PM
From: Bonnie Bear	Read Replies (1) \| Respond to of 94695

Tom, adjusted for interest rates, many smallcaps are selling at 1990 valuations- the damage in the smallcap sector and the divergence between largecaps and smallcaps is just incredible. They seem to be priced for the "r" word, and there's no derivatives market to keep them artifically supported. REITs growing at 40-60% are selling close to book, small utilities are close to book value. Unless you own the S&P 100, including the Dow, you're in a bear market.

To: Tom M who wrote (20051)	6/10/1998 5:53:00 PM
From: Andeveron	Read Replies (1) \| Respond to of 94695

>> Didn't exactly look like a surge of buying "on the best economy in 50 years". I can't believe the Fed chairman's supporting these valuations. << I wouldn't call Greenspan's speech a ringing endorsement of the current market. "The best economy in 50 years" doesn't exactly translate into "The best market conditions in 50 years" though some will probably twist it and interpret it that way. Still waiting for the Big Kahuna...