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

To: Philipp who wrote (23594)	8/7/1998 1:26:00 PM
From: Oeconomicus	Respond to of 94695

Philipp, I see it the same way. 1120 or so is very important on the S&P and I'm betting it will hold (for those interested, I haven't closed that bear spread because the specialist is being much too greedy). On the Dow, I will be greatly comforted if the June lows become effective resistance, but we are giving that a good test so far today. A couple notes - One, we never got the kind of VIX readings we got last fall (not even close - it spiked up to the low 30s briefly, but last fall it spent two weeks in the 30s after hitting 55) and it's already back down to 25; and B<g>, we never got a trin-5 buy signal, in spite of a 10% decline in two weeks. Where's the fear? Not only that - where's the beef - the fundamentals to support further gains? BWDIK? Bob