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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: Carl R. who wrote (17040)	11/8/1998 10:47:00 AM
From: Zeev Hed	Read Replies (1) \| Respond to of 18056

Carl, as usual, I get in too late and out too early, but as long as I am in part of the uptrend, I make money. I turned mildly bullish on the first FED cut, and left my bear grin completely on the second, I am not bearish right now, but I agree with you that we may have had the lion part of this advance . Here are some factors I watch, the long term bond is getting very close to 5.5% (I thought the market will start and turn tail once the bond reaches 5.375%, it did but the market did not flinch). The NYSE specialists are very bearish. The short term momentum indicators are almost uniform in their over extended position and thus bearish. The main reason I am not turning into an outright bear again at this point are the monetary conditions and the excessively high put/call ratio. Very long term (5 years) I am still holding to the scenario of a series of bull and bear markets in the range of 5000 to 10,000 on the Dow. Zeev