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

To: yard_man who wrote (23510)	8/6/1998 6:09:00 PM
From: Peter Singleton	Read Replies (2) \| Respond to of 94695

tippet, I'm kind of new to this game. You guys have been watching charts and poring over the tea leaves, for years, it seems, and every twitch up or down means something and gets an elaborate scenario forward with "by Wednesday at 2pm we'll hit 1040, then we'll dip down to 1020 by Thursday at 11 ... " I agree that the market looks terrible. Awful. Technically and fundamentally. Plus there are fearsome risks of exogenous shocks ... There's a real possibility we're looking at the end of the 16 year bull market ... and all that entails (not pretty). From the standpoint of fundamentals, it's hard for me to see many of the small caps selling much cheaper. There are some very good values out there. However, if the macroeconomic picture changes, or the overall market takes a steep decline from here, all bets are off, and there's really no floor until you get to zero on some of these guys, that is if you have to sell, and can't afford to wait things out. My question was how do we interpret buying pressure like there was today on the Russell 2000 ... consistent, steady, all day. Was that semiconductor-related? Was that a shift of funds from big cap to smaller cap based on value? Was it noise level in the data? I'm really asking a naive question, hoping to get some answers from some of you folks who've followed indexes a lot longer than I have. Peter