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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: Joseph G. who wrote (5874)	8/25/1998 9:36:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 9980

Joseph, you are right, and this index is already down almost 20% from its peak, and I believe, below last October's low. The question we may want to try and answer is this bear a grand secular bear or just one of those "little" cyclical bears. The fact that it is being thrust at us while interest rates are falling gives me a sickly feeling in the pit of my stomach that it might not be of the cyclical variety, those usually are preceded by rising interest rates. From a technical point of view, the barrage of extremely negative ticks just at the peak of this market in mid July, indicates to me a change in the mood of the "new paradigm" people, they never came to the rescue on the dip after that last top. Zeev