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

To: HairBall who wrote (23234)	8/4/1998 8:46:00 PM
From: Bonnie Bear	Read Replies (1) \| Respond to of 94695

From Dr Yardeni web site: S&P 12.5% overvalued. (That means there's a lot of grossly undervalued stocks in this market to balance the blimps!)

To: HairBall who wrote (23234)	8/5/1998 4:28:00 AM
From: Philipp	Read Replies (1) \| Respond to of 94695

Hi, LG: < The talking heads will ALWAYS come up with one!> I don't agree entirely. All the crashes, including all those tiny mini-crashes of the last 11 years, had some singular bad news (even such ridiculous ones as the Bundesbank raising interest rate to affect the dollar-mark exchange rate). At the moment the talking heads appear too confused themselves. They need the singular event to converge at one moment in time. However, I agree that it can be something fairly minor and insignificant. I have not yet read all the messages on the relevant threads, but I think that I will go for a rebound today. There is still too much bullishness in the market. I read some of the threads on major individual stocks. And it is amazing how unrealistic people are about the possible downward risk (MSFT $ 96?). Since you are using different strategies, I guess you will be waiting for the early morning action. Since I have enough long-term puts, I cannot lose too much if it goes the other way. I hope you and other TA experts will keep the threads informed if there are significant intraday changes. The markets will certainly be very volatile for the next few days/weeks. I don't have the time or methods to do so. Good trading, Phil