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

To: jef saunders who wrote (23621)	8/7/1998 3:58:00 PM
From: yard_man	Read Replies (1) \| Respond to of 94695

well, I hope he has missed his op, but I'm a little surprised by today's reversal. I expected next week. I feel comfortable holding puts. I think some real psych damage has been done -- even though we haven't seen the fear yet.

To: jef saunders who wrote (23621)	8/7/1998 10:25:00 PM
From: Sleeperz	Read Replies (1) \| Respond to of 94695

Sounds like Jeryy is hedging his bets. Short any significant rally but go long over 9400. DJIA hitting 9400 is a sginificant rally. cl >> jerry favors was just on cnbc. he called for support around 8200 (8187 +/- 123 points), next stop 7300 later this fall. he showed charts from '29, '37, and '61 where the quarterly indicator had turned bearish and then there massive drops 6 months later. he said the last few years the indicator has not worked, that it had turned bearish, and then the market had rallied enough for it to turn postitive again. (this time, 9400 is the rally point). he's looking to short the market on any significant rally, but he says we haven't had one yet, where it's up for a day and then disappears, like today. <<<<