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

To: William H Huebl who wrote (40215)	5/24/1999 12:49:00 AM
From: Skeet Shipman	Read Replies (1) \| Respond to of 94695

Hi Bill, I can never figure what these international bank trading departments, hedgefunds, and those spooky traders down in the pits are doing. It looks to me like they are unwinding some of their high leverage spreads; unwinding short the bond, long shorter maturities?!? Of course, it's not that simple with the dollar yen and emerging market hedges and spreads. But whatever is going on, it's being financed by and implemented through/?/by the international banks and brokerage houses. That's where the money, loans, and high ?compounded? leverage are. (Are they this generation's "Company Stores"?) . Options expiration just not the same anymore: relatively stable and low volume this week? There's confusion in the movement of the financials, utilities, bonds, 10year. And I don't think interest rates have a thing to do with PE levels, it's whether money is flowing in or out. Even though I do not have a full sell signal for overall market, awaiting a confirming market signal, I've been lowering my risk, on the long side. It may be just a tired market going into the summer doldrums? Yet, it appears money is flowing out of this market. That leaves a bunch of day and short term traders with nobody to take their positions. The funds are reportedly low on cash? Since I don't think my indicators are leading as of now, I'm just going with the flow. .Semper Augustus. Skeet