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

To: P.T.Burnem who wrote (25942)	9/1/1998 12:26:00 AM
From: Ralph W.	Read Replies (1) \| Respond to of 94695

Just got a note that key Russian Army units around Moscow have been placed on alert. Not sure who they'll defend: Yeltsin, the Dumas, Lebed, or themselves. no-g-. Ralph

To: P.T.Burnem who wrote (25942)	9/1/1998 12:44:00 AM
From: Andeveron	Respond to of 94695

>> Globex futures are up 20 points. << Globex futures are portending sucker rallies that should be sold into or shorted.

To: P.T.Burnem who wrote (25942)	9/1/1998 11:42:00 AM
From: P.T.Burnem	Read Replies (1) \| Respond to of 94695

It will be different this time, I think... The market out there looks and feels a lot like the one we had in the fall of '87, so I've been pondering how lessons of the '87 market crash could affect the behaviour of today's market participants. In 1987, the Dow peaked in August, promptly dropped 15-20%, and then staged a sucker's rally in September. Those who fell into the bull trap got badly hurt when the market went into a free fall in October. In retrospect, the right thing to do was to sell into the rally. With that in mind, I doubt that we are going to have a counter-rally of any significance this time around, which is to say that the market may be heading straight down. How far down is anyone's guess. PTB P.S. Also, an earnings warnings month is coming. This is a relatively new phenomenon that was not a factor in 1987.

To: P.T.Burnem who wrote (25942)	9/1/1998 11:47:00 AM
From: P.T.Burnem	Read Replies (1) \| Respond to of 94695

It will be different this time, I think... The market out there looks and feels a lot like the one we had in the fall of '87, so I've been pondering how lessons of the '87 market crash could affect the behaviour of today's market participants. In 1987, the Dow peaked in August, promptly dropped 15-20%, and then staged a sucker's rally in September. Those who fell into the bull trap got badly hurt when the market went into a free fall in October. In retrospect, the right thing to do was to sell into the rally. With that in mind, I doubt that we are going to have a sucker's rally of any significance this time around, which is to say that the market may be heading straight down. PTB