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

To: Crimson Ghost who wrote (17112)	11/18/1998 11:13:00 PM
From: geewiz	Read Replies (1) \| Respond to of 18056

Hello George, You have confidence in a final rally after a correction. Is it the flush of liquidity brought by lower rates that will fuel this rally? Have there been similar circumstances (low interests, declining commodities, profits, expanding credit) in the equity markets. Thanks for the thoughtful posts, best, art

To: Crimson Ghost who wrote (17112)	11/19/1998 5:48:00 PM
From: Zeev Hed	Read Replies (2) \| Respond to of 18056

George, I am not sure what you mean by "dangerous, if a fast 300-400 points retreat on the Dow is dangerous, then yes, but in the process the market is finally healing some of its technical over extension, today's action was actually pretty bullish for a strong year end rally, maybe even to a marginal new high (meaning some 600 dow points or more from a mild retrenchment). I would not be aggressively bearish and after having completed raising my cash position to 75% today, I'll probably start and redeploy back in starting in the first or second week of December. On core positions like MRK, I just reinstituted a covered call strategy today. Zeev