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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Big Bucks who wrote (22788)	8/11/1998 4:07:00 PM
From: Proud_Infidel	Read Replies (3) \| Respond to of 70976

BB, We seem to have come off the lows of the day. I was hopin we'd again close down 300 points. Cos. like GE, KO, and a whole list of large cap stocks are not priced for disappointment. Should they go down another 10-15%? IMO, yes and I hope so. Otherwise this market is like a poorly constructed building- top-heavy and ready to tumble. The sooner we get the excesses out the better. I would not at all be surprised to see much additional bleeding in the large caps, but do not think we are in a classic Bear market where they languish for years. Simply too much liquidity with a fairly good picture. Low int. rates, low unemployment, etc etc. Asia will be worked out; it is just a matter of when. Once it is priced into some of the Big Boys I will feel much more comfortable. Contrary to the image painted of me by some on this thread, I am not a "raging Bull." BK

To: Big Bucks who wrote (22788)	8/11/1998 6:18:00 PM
From: Teri Skogerboe	Respond to of 70976

Bucks, Re: Direction of the market. A couple of views. interactive.wsj.com Excerpt: Prudential Securities Inc. Market Strategist Larry Wachtel suggested that with the trigger coming from abroad and little in the domestic landscape to turn sentiment around, the southbound momentum could persist until September or October. "There's nothing of a catalytic nature to turn the market on," he said. "All you get is bad news." While Mr. Wachtel did say a short-term bounce is possible if the market ends the day with a loss of more than 300 points, he added that the real turnaround is some time away. He said he doesn't expect the market to regain stability until there is some clarity about the Asian economic situation. "You get down to a level where the blue-chips and the broad market coalesce and you wait for some good news from Asia," he said.