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

To: William H Huebl who wrote (28015)	9/16/1998 6:16:00 AM
From: Philipp	Read Replies (1) \| Respond to of 94695

Bill: Could be. Actually I agree that he will say more or less the same as last time, just change the weights a bit so that people realize that the underlying tone of the last speech was bearish! By the way, the last thing Greenspan wants at this junction is a reemergence of the irrational exuberance. That in my view ensures that he will be very careful so that he won't be misinterpreted again. In fact, he may be quite explicit about this (there was a similar occasion earlier this year). However, if you are right and if his speech triggers another big rally (by intention rather than misinterpretation), I would go so far as possibly claiming that the whole correction is over. It is interesting that the TAs on various threads arrive at very different conclusions right now (you: explosive rally, Don, Temple: big leg down, etc.). That indicates to me that on the surface the market wants to do one thing, while underneath it wants to do the opposite. I just would like to know which of these opposing trends is the right one. Regards, Phil

To: William H Huebl who wrote (28015)	9/16/1998 7:04:00 AM
From: robert b furman	Read Replies (2) \| Respond to of 94695

Hi Bill, globex trying to stage at least a modest rally this a.m. . I show vgy 20ma at approx. 395 (if vgy goes up 4 pts + - then 20 ma will begin to reverse ? Is my thinking correct. Stochastics , time segmented volume , and macd all look to be improving. Sure hope your explosive rally takes place.S&P,OEX,and many indices that show violated support levels (not very far away)could become targets that offer very little resistance if shorts must cover. Shorts covering with pent up cash on the sidelines could make BK go down in the record books as a nasty shakeout just before the blowoff top of all blowoff tops.This mother of all tops might just include a rotational leadership from the beaten down sectors i.e. oil and techs. Still think watching IBM and INTC will show the way. JMHO BWDIK Bob