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

To: Moominoid who wrote (22929)	8/1/1998 8:43:00 AM
From: RWS	Read Replies (2) \| Respond to of 94695

Nice website. Really interesting work on global warming. Thanks. RWS

To: Moominoid who wrote (22929)	8/1/1998 11:45:00 AM
From: Elllk	Read Replies (1) \| Respond to of 94695

David Wonderful charts. I agree with you and Thomas that there is a good chance of one more rally, but also for totally different reasons, and from a totally different perspective, than either of you so I may as well throw them in. I think there has been an intent by Greenspan et al and the forces lining up behind Clinton (which includes, among others, many wealthy Republicans who love the economy) to dampen the tendency toward an August high (which may have something to do with comparisons of the current look to past Octobers) in hopes of also doing the same with the same for an October low. The Clinton presidency is at stake and it seems likely that a necessary, not necessarily sufficient, condition for it to survive is a rally, at the least, through most of October and the early November election, the hope being that the Democrats will ride improving public sentiment to gains in Congress and be in a better position for the political manuevering that will decide Clinton's fate. The Grand Jury is now irrelevant, except for the impact of Clinton's testimony, since no one will be indicted. A report will go to Congress where a political solution will prevail. Under these conditions, paranoids like myself can accept certain powers being willing to accept a bad August and September, if necessary, to have a good October and November. At any rate the whole thing should be basically over and behind us by the end of the year and having it behind us, whether its President Clinton or President Gore, could set off a monster rally which might even run all the way to Jim's small cap blow off. For the time being, those trying to delicately lay a finger on the tendency to August highs may be worried (and the rest of us also) that they have put the finger right through a piece of wet cardboard, which is not exactly what they want to do either. Even for them its a tricky mess to negotiate which may require the talent of Mr. Magoo (this inserted to show I am not totally paranoid). Larry