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

To: Bull RidaH who wrote (23272)	8/5/1998 1:20:00 AM
From: Bonnie Bear	Read Replies (2) \| Respond to of 94695

David: I just took a walk around the russell carnage. I agree-I'm in awe- this is not ordinary carnage, this looks like double-digit unemployment in the near future. I saw a glimmer of what a deflationary depression is like.

To: Bull RidaH who wrote (23272)	8/5/1998 7:52:00 AM
From: donald sew	Read Replies (2) \| Respond to of 94695

David, If there is a pop soon/immediately, the strength of such pop/rally will be a strong indication of whats to come. Lets say that it does pop soon and the pop is immediately sold off. Thats a real bad sign and a confirmation that we are going alot lower. If the pop is small but holds then there is a chance that the upcoming drop may not be that strong, at least not immediately. If there is no pop - well that's real bad. If a rally is strong but does not set new highs, which of course I doubt, we are still going lower but it will take longer. In all the examples, we are going lower, but how much and how fast could be determined by this forthcoming pop, if there is one. I took a chance a bought a small position of OEX CALLS looking for only a small pop of about 10-15 OEX points(can even live with 5 points) in order to create a BEARISH CREDIT SPREAD. Will be working with the AUG 565 and 560's, since I seriously doubt the OEX will get anywhere close to those levels - just want to have them expire worthless. Seeya

To: Bull RidaH who wrote (23272)	8/7/1998 10:57:00 AM
From: yard_man	Respond to of 94695

I believe you called 1060 as a support level. Lucky guess or good call? Doesn't really matter -- worked out. Heard the decline blamed on Monica, flat earnings (I think they are declining), and all other sorts of things. I feel that the market will start heading down again next week and that this turnaround is too easy. Lotsa folks just ready to toss in with the pundits saying it is just a normal correction. Tell that to the folks invested in the transports, eh?