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

To: GROUND ZERO™ who wrote (30022)	10/2/1998 8:57:00 PM
From: KM	Read Replies (3) \| Respond to of 94695

Though you guys might be interested in this snippet from theStreet.com's editor's column today about the pessimism currently in the market: * * * * In addition, some of the staunchest bears that I know, investors who benefited greatly from recent slumps and cheered as stocks dropped from Jakarta to Moscow to New York, have now started to change their tune. I heard from two bears in particular today, each outlining different reasons why they are starting to feel that the run on the short side may be drawing to a close. Now these gents were a mite early on getting short, and they may be a mite early in getting long -- and they freely concede that point. But this kind of shift is something important to ponder when the now-popular pundits of pessimism are barking loudest. Coincidentally these shifts -- from bear to almost-bull -- occur just as the public seems to be losing its stomach for the battle. Fund flows have gone starkly negative. I don't entirely agree with Jim Cramer's view that this is like 1990, primarily because I think the philosophical attack on capitalism is far greater than at the start of the decade, but in 1990 the public bailed at the bottom. It didn't take long for them to jump back in, and that might be one more lesson from 1990 that we should heed. From bubbles to doom, the bears have had plenty to say of late, and they may still yet find themselves inglorious in triumph. But I believe the bulls may have more reason to say that a light at the end of the tunnel is beginning to show itself. * * * *