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

To: Barbara Barry who wrote (20074)	6/11/1998 1:52:00 PM
From: Oeconomicus	Read Replies (2) \| Respond to of 94695

I will wait for a failed rally. Have you looked at a Dow chart over the last week? Or, are you waiting for it to drop another sixty-some points to close below last week's closing low? If not that, I hope 8750 would say something. I've heard people say, when referring to bottoms, "when the market stops going down on bad news...". Well, doesn't it work the other way too? From yesterday's Greenspeak, it's hard to have read anything into it other than "Goldilocks appears to still be enjoying her porridge and it appears to be just right." That should have been great news for the market - no evidence of either inflation or recession. Yet yesterday's rally failed to follow through on the then apparent reversal of last Thursday and Friday and then turned sharply lower. BTW, we are also seeing lots of capitulation by bears in the most speculative stocks (IMO) as they spike up for no apparent reason. BWDIK? Bob