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

To: Bonnie Bear who wrote (23658)	8/8/1998 1:34:00 AM
From: HammerHead	Read Replies (2) \| Respond to of 94695

Asia News - China's currency has broken official 8.28 exchange rates. The black market has jumped from 8.75 last week to 9.2RMB for 1 $US in Shanghai. The speculation is that China may gradually devalue its currency to 9.0RMB exchange rates by next year. Any thought?

To: Bonnie Bear who wrote (23658)	8/8/1998 2:48:00 AM
From: James F. Hopkins	Read Replies (1) \| Respond to of 94695

Bonnie; RE> BTW you might want to read about the advance/decline diagnostics and market commentary on S&P's website << I looked over his study, and I have some serious reservations about his projections. First his study was based on NYSE stocks going way back..well they made up a bigger part of the S&P back then, than they do now..while they still seem to have more than the Nasdaq, the amount of Nasdaq stocks in it has come up a lot. If he had used both NYSE and Nasdaq stocks to get his percentages he may have wound up with a very different looking animal. This is what he should have done , as the Nasdaq has grown greatly in power over his time frame. In short his input data is short sighted, had he used both in this last low he would have not come up with any 16% but with 12%, I have no way of knowing what the % would have been in the past using both , but if he is going to work with percentages he needs to use both, on account of the changes in the market place. Not doing that he is for sure comparing the apples of the past with the oranges of the present. I won't go so far as to say his idea is not sound, but the way he applied it is. I can't disprove his findings but I have to disregard them. Some one needs to give these Nobel prize seekers a few lessons in logic. The Nasdaq is now trading about 50% more issues than the NYSE..I don't know but I'll bet it was more like 50% less issues back where he started. At any rate he left out the larger half of todays major stock market. Jim