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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 (22094)	7/22/1998 3:36:00 PM
From: yard_man	Read Replies (2) \| Respond to of 94695

A/D has been horrible for weeks. What's new?

To: James F. Hopkins who wrote (22094)	7/22/1998 9:37:00 PM
From: Bonnie Bear	Read Replies (1) \| Respond to of 94695

Jim: the S&P smallcap index and Russell 2000, and REIT index, have fallen below their 200d moving averages...if they continue down from here, it's bye bye for this market. There's something like 8000 microcap stocks, and adjusted for interest rates they haven't been this cheap since the 70s. Never could I dream of such a huge divergence. This means most smallcap fund managers are now operating at a loss. Lots of CEFs are selling at ridiculous discounts- it DOES look manipulated for stuff to be pushed this low. I guess the things that could bring it down is an inflation shock- oil?- or yuan devaluation. Apparently the yuan has already been devalued on the black market. If the Chinese gov does not want to publicly devalue then they are forced into subsidizing the black market. I think devaluation must be soon.