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

To: Arik T.G. who wrote (34298)	11/24/1998 12:55:00 PM
From: Bull RidaH	Read Replies (1) \| Respond to of 94695

Arik, >>Did you say SPX 1193 ?<< Positively, absolutely, unequivocally not!! That target was revised in the following post... Message 6540735 ..... To 1192!! <ggg> Kidding aside A-man, I'll be very gratified if the market peaks within 10 SPX pts. of this level. When we look back at the big daily charts in 3 months, I believe we'll be staring at a great big DOUBLE TOP at a minimum, and possibly a Triple Top, as the first decline will most likely be followed by a wave 2 rally back to the top. On an aside, it seems to me that the Fed will soon start defending the Dollar.... AGAINST THE STOCK MARKET!! Because isn't that what day to day price fluctuations in the market really represent? How many dollars one will exchange for ownership in a stock/basket of stocks..? Will the dollar continue to lose its purchasing power vs. these equities, and lose more respect in the financial marketplace? If the basket of equities were becoming more intrinsically valuable, then that would be another story, but have you seen earnings for the last few quarters? Phewwwiiieeee!!! We know that's not the Fed's style, at least according to the "punchbowl" theory. The question is, who's gonna do the dirty work? Rivlin...? A Fed Gov...? NY Fed Chmn...? Or the G-Man himself? WARNING!! All hands on Deck!! Prepare to be ATTACKED!! (That is... if you're long). Regards, David Plonk P.S. Yes.. I'm short already... From 9325 on the Dow, and 6.12 in BearX (Fired a little early on that one, before i saw the light)