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

To: Hawkmoon who wrote (34922)	12/4/1998 1:41:00 AM
From: Jay8088	Read Replies (1) \| Respond to of 94695

I do agree with you that this is very much liquidity driven market. However this 35 X p/e on what looks like margins shrinking environment is also unsustainable. My guess is that we are in a wide trading range market with sharp volatility. The top range at 10000 due to extreme valuation and the bottom range around 7000 due to the Fed providing easy liquidity to feed speculation. Namely what we have seen in July-Nov period, big up-down-up may become more of norm than anomaly. Next year may be a great year for market timers and stock pickers and a lean one for index buy-and-holders. Once again, just my guess.