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

To: HairBall who wrote (23357)	8/5/1998 4:18:00 PM
From: Kip518	Read Replies (1) \| Respond to of 94695

LG, Sturm & Thrum -- all the mountain dwarfs just jumping up and down making noise and thunder -- making excitement for nothing. Closed up with almost 3-2 down-to-up in both NYSE & NASDAQ. The welcome mat is all polished and glowing for the greater fools.

To: HairBall who wrote (23357)	8/5/1998 4:27:00 PM
From: P.T.Burnem	Read Replies (2) \| Respond to of 94695

The Dow was 1000 points off its all-time high when the market made an abrupt turn for the better. No apparent news to account for the reversal of fortunes (did the Feds intervene?). Should make for some soothing headlines: "Worst May Be Over for Dow Say Market Pro's". "Abby Cohen: Stocks Undervalued. Dow Rebounds up 50 points". It's hard to tell how long the rally will last, but I'd not be terribly surprised if the Dow retraced half of its recent losses (i.e. 500 points from today's low) before the Labor Day. Dow 9000 is less likely but not out of the question. I can't see the Dow making a new high between now and the end of the year. PTB

To: HairBall who wrote (23357)	8/5/1998 4:59:00 PM
From: James F. Hopkins	Read Replies (1) \| Respond to of 94695

LG; I didn't count on it popping up as much as it did late in the day, but I saw a buy program hit about 3:30..and the DIA was slight discount to the DOW..buy the time I could pull the trigger it went up 1/4 and being I was just talking about buy on the close sell on the open, I jumped on it. Now I hope it don't gap down on the Open, but I doubt taht it will as that would defeat their "bait" Heck I might hold it if that close follows through it might start triggering stop losses on the shorts. There was a lot of shorting today at lower levels. Maybe a mini bear trap ? Internals didn't look good but they did improve. Jim

To: HairBall who wrote (23357)	8/5/1998 5:07:00 PM
From: P.Prazeres	Read Replies (2) \| Respond to of 94695

James, <<EDIT: Can't have the Dow Industrials closing below the 200 day yet!>> The Dow closed below the 200 day MA yesterday and right at it today. Anyone have the new lows and new highs. and once more: ON ANY RALLY, GET THE fuck OUT. This is not like any other correction of the past three years, and this is a heck of alot worse than last October... Don't buy the dips, and don't try to short because the volatility will eat you up alive...just get into cash, sit back and wait for conditions to improve. Paulo PS, At the rate that the swings are going, tomorrow and Friday could be very ugly, possible setting up for an even uglier Monday.