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Strategies & Market Trends : Sharck Soup

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To: Softechie who wrote (13180)3/24/2001 11:51:05 AM
From: Dave Gore   of 37746
 
WILL YOU BE LATE OR EARLY TO THE RALLY PARTY?

"If Alan Greenspan makes positive comments, or the tax-cut proposal is passed or just one bellwether company announces it can see the end of the tunnel -- that it's starting to see an upturn in orders -- "you'll see people closing their eyes and buying, Ginzburg said. "Nobody wants to be the last one to the party."

Pin the Tail on the Market

But being last to the party -- or at least late -- is precisely the recommendation and strategy of Hugh Johnson, chief investment officer at First Albany, which has about $630 million under management.

"Many conditions that accompany the end of bear markets are in place," Johnson said, citing Fed easing and the overall liquidity picture, a steepening yield curve, small-cap outperformance and narrowing credit spreads. "The only thing missing is a bull market."

Johnson was being facetious (I think), but his point was that he "wouldn't be the least bit surprised if [Thursday] was bottom, or if we have to wait until June. There's no way to tell if that's it -- there is no road sign."

whole story at: thestreet.com
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