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

To: P.Prazeres who wrote (22909)	7/31/1998 11:01:00 PM
From: Bonnie Bear	Respond to of 94695

Paulo: a few observations: within closed-end funds the REITs have finished a 35% correction and are back to a late 1993 market price when interest rates were similar. Utility/bond CEFs- also back to 1993 prices. Natural gas is quite high by historic standards, so if somebody is mickying with the numbers they'd have to sell off the utilities to bring the natural gas prices down. Gold is severely underpriced using 93 as some historic parity. Is somebody is mickying with global money supply to balance liquidity levels? Take a look at SWINX: global stocks are about 20% overvalued. A 15% correction and 5% drop in interest rates creates a "fairly valued" market per Ed Yardeni's model. But to do this the banks have to crash. Maybe it takes a bankruptcy in Japan to do it.