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

To: James F. Hopkins who wrote (24197)	8/13/1998 1:24:00 PM
From: yard_man	Read Replies (1) \| Respond to of 94695

>>If she hit's 7000 I don't want to be around long after that, as when they start calling out the National Guard in one City after the next and having to shoot the looters I'd just as soon be somewhere else. << Gosh, Jim that seems a little strong. I can't imagine that the fallout of the DOW at 7,000 would be that great. Who knows maybe 5,000 would spark a revival or re-examination on the part of some in our nation as to what's really important. If it goes to 5,000 or so there would be difficuly -- no doubt about it, but to think there would necessarily be civil unrest -- I don't know.

To: James F. Hopkins who wrote (24197)	8/13/1998 1:29:00 PM
From: Philipp	Read Replies (1) \| Respond to of 94695

Jim: If you wipe out all the money that came into the market since last Fall, I believe you can kiss this system goodby, & get your passport ready. That's a bit extreme. You won't wipe out all the money that came into the market, just the paper profits (+ a bit more). But all these profits were built on completely unrealistic expectations of the market. I agree that when this bubble finally bursts it will be a blood bath, but what do you think is the alternative? That the bubble becomes even more "exuberant"? To make expectations even more unrealistic and risk an even bigger fall in the future? There is one thing you can be sure of and that is that bubbles burst. The alternative that the market just goes sideways for several years till valuations have caught up with the runaway market is just unrealistic. I also don't agree with you that a 30 % + correction would be that disastrous. I read recently that historically there has been a 40 % correction every four years and the last one we had is now 11 years ago. Finally, what about Ms Cohen? Wasn't she supposed to announce today that the correction is over and trigger another 300 point rally (like last October)? The market does not look that weak to me today. So I think there is a potential for a late-afternoon rally. Good trading (but be prepared for the worst). Phil