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On Tue, 1 Sep 1998, Felix TY wrote:
> Yes, only time will tell. Even the crash of October 1987 is just a correction, not
> really a start of a bear market even with all its frightening dimension at that time.
>
> But the current one is really scary because of worldwide syncronicity.
>
> Perhaps to stop sniping from the fundamentalists and the technicians here, let's
> have a third kind of market analysis, the Market Realists, maybe the likes of Soros.
Yes, scary because the *global* markets may be headed for a protracted
downturn. Remember that secular bear markets typically don't start due to
rich stock prices or high P/Es. They start due to rising interest rates,
poor earnings or political events as we have seen coming tot he
forefront in the past several months. With tight coupling among economies,
several can drag everyone down.
They say the domestic economy is healthy although we won't be if the rest
of the world slides into the pit.
The good news is that the blue-chips and more popular stocks are getting
blown off in single-day selloffs with high volume. The word I keep
hearing in the news media is "capitulation", but I suspect we have a
little ways to go before a true capitulation.
- Hacker
---
Dark Hacker | Fortress Of Computation
mail: hacker@xxxxxxxxxxxxxxx | web: http://www.computation.com/pub/hacker/
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