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

To: P.Prazeres who wrote (25672)	8/30/1998 8:23:00 AM
From: Philipp	Read Replies (1) \| Respond to of 94695

Paulo: I completely agree with you. Friday's actions don't bode well for next week. I just wanted to soften my earlier call for a crash tomorrow (# 25438). It may still occur on Monday, but I don't think that it is pre-programmed into the market (as I thought Thursday evening). It still needs another push (and there are plenty of possibilities). Once the psychological levels of 8000 (DOW), the strong support around 990 (SPX) are broken, I expect the market to go into free fall. I think that the indices will cut through the next few support levels like butter. As far as the timing is concerned: perhaps the first leg of this downturn could be over before Labor Day (earlier than most people call it) and the week after the beginning of a significant rally? Cheers, Phil