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

To: JBL who wrote (33274)	11/8/1998 4:37:00 AM
From: Real Man	Respond to of 94695

True, only one market is close to all-time highs - the most overvalued one, the US of A...

To: JBL who wrote (33274)	11/8/1998 8:17:00 AM
From: donald sew	Read Replies (1) \| Respond to of 94695

JBL, >>>>> IMO, people should forget about TA for a while. Whatever Wall Street does during the next few days, there is absolutely no way that Asian and Latin American markets are going to follow this rally much longer, and these are the real driver. <<<<<<<< Most of the short-term technical indicators I use are showing severe overbought. Right now they are of little use since the market is moving so strong. Actually, I consider this as a technical breakout which is different than a price breakout, thats when the technicals are at the extremes and the market should reverse but does not. During these times my short-term TA is basicly useless, but the technical breakout could also stop at any time. Right now liquidity and the image of further rate cuts by the FEDs is what is motivating this market. The fundamenals are not supporting it, with the P/E's of the S&P at historical highs, but earnings showing little growth, due to Asia and other international influences. Seeya