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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: IQBAL LATIF who wrote (19466)	8/23/1998 11:09:00 AM
From: Jerry Olson	Read Replies (1) \| Respond to of 50167

Good Morning IKE When we last spoke a week or 2 ago we both felt there would be a technical rally short term...I told you of the impending Doom & Gloom of the semis & semi-equips...Well as you know it's already started.. There is NO letup in sight for the next 2-3 Q's IMO...In 97, early in 97 the techs rallied the market at an incredible pace...Without the techs this market will go nowhere... I can't for life of me see 5200, not now not ever...BUT, i do see 7400, for some reason that would be a solid 20% correction from the highs, and a reality check for everyone...In fact it would be, a "throw in the towel" correction that would lead to new highs mid-to late next year...a solid BOTTOM.... There is NO WAY this market can go to new highs from here...we are range bound, albeit from lower levels...88-8900 at the top and mid 7000;s at the bottom...I think if we break 8300, that will be the signal for an additional selloff... And IKE all of this in the context of a wonderful BULL Market "Normal" correction...Unless & until something "else" changes in the World...and what I don't know, then we are still going higher from here...the slowing of OUR economy & Corp profits will just lower the numbers of the DOW, but we will still be in a secular Bull Market for sure... Alan G, is a non-event now for several Q's out...Inflation is tame, but profits will be hurt of course...a slowing American Economy will be good for the future of the Stock Market, as it rebuilds around the world...I just don't see a BEAR market on down the road... anyway I always enjoy your candid posts & opinions...puts a smile on my face when you stick your neck out there...:>} I am in all cash and have been for 2 months... i will patiently<ggg> wait for the bottom....somethime in DEC i would think... My reagrds, Jerry