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

To: Bonnie Bear who wrote (22148)	7/23/1998 5:18:00 PM
From: James F. Hopkins	Read Replies (2) \| Respond to of 94695

Hi Bonnie; This looks like consolidation time, funds rolling out and taking profits from the high rollers, then reallocating some of that down stream as it hits bottom. I'll get worried if we don't hold the S&P at 1120. But I had to sell some of my winners to pick up more on that stupid mortgage reit CMO, it's still getting hammered..way below book value, and shorts climbed on it this week ( I'm almost sure of that ) but can't prove it. In general the CEs are doing bad, and selling at discounts, RWT, TMA, & CMO have been hit hard. EMD, FUND , and MSD are all sliding down..no body wants these bargains, so value is not the name of the game, YET, I'm about to think when the CEs start to sell at a premium the market will bottom, that's a scary thought. Jim