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

To: Pierre J. LeBel who wrote (23535)	8/6/1998 9:11:00 PM
From: Kip518	Respond to of 94695

The FED does not control the stock market in the USA or worldwide Fleckenstein has more speculation on the Plunge Protection Team tonight: stocksite.com

To: Pierre J. LeBel who wrote (23535)	8/6/1998 9:25:00 PM
From: Tom M	Respond to of 94695

Hi Pierre, >> the market is overvalued<<. My point is the whole market is NOT overvalued, only where the money is, IMO the problem should be simpler to solve than crashing the whole market. There's billions or more in the chosen-few. It may be too late now to champion a rotation to value, but why not? Last time I checked there were 23 analysts with buy or strong buy on MSFT for eg. Why not correct this "party" without devastation by starting to downgrade to hold with a hint to invest their money in lower P/E stocks? The greediest will be the last out. The talking heads can do it, they created this mess. Me and almost anyone even holding MSFT/INTC/CPQ/DELL etc could think of 10 reasons to justify a downgrade on each issue. The talking heads also have several thousand other issues they could point the money towards, just like they did to get it there in the first place. And I don't underestimate the FED's power of "timing", even though as you say, it does not control the market. Naive as I am, I just don't see why we can't burst the handful of bubbles where the money is. The media can do anything. This will also be in the history books. regards, and obviously WDIK, Tom