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Below Ron Kraft gives a cryptic warning of a 5 to 10% stk' mkt' fall during
August. He is taciturn for now but promises a reason for his prognostication
soon - probably as the correction becomes confirmed. I don't know if this
will pull some of his reasoning out of him sooner rather than later but Ron -
is part of your reasoning for your view due to the Capital Gains Tax Cut just
passed today.
Personally I have expecting a 10 to 14% correction during the last half of
this year. Cyclically the next sell-off is due in August. I have no short
term sell yet, but I do have turns due over the next 2 weeks of significance
(the last mild turn was 7-21 -- a good low). Capital Gains could be a modest
trigger - if not then watch out before year end.
I will elaborate when I get a Sell signal.
Kurt
Sunnen@xxxxxxx
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From: owner-realtraders@xxxxxxxxxxxxxx on behalf of Ronny Kraft
Sent: Monday, July 28, 1997 5:52 PM
To: RealTraders Discussion Group
Subject: The Sky will drop about 5%
I have been viewing all of the postings in the past few weeks and have been
formulating my opinions on the sidelines. I am professional money manager who
manages several hedge funds. With that in mind I would like to tell all that
will heed that
THIS MARKET WILL CORRECT 5-10%
in the next few weeks. That is my contribution to this group. All I ask is
that you all remember where you heard it first. My message is being stated in
no uncertain terms.
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