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Strategies & Market Trends : Natural Resource Stocks

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To: isopatch who wrote (19455)	12/30/2004 8:58:43 AM
From: austrieconomist	Read Replies (1) of 108706

Sentiment. Thanks for these reports. One item and one thought. Richard Russell has been talking about the bullish/bearish sentiment spread since November, but has also cautioned about betting against the consensus in the short term, using the great Keynes line analogy that the consensus can remain in place longer than you can gain profits by betting against it (my paraphrase). The thought going along with this recent Russell observation, particularly in regard to the VTO graph, is to note that the wide spread in bullish bearish consensus appeared to develop in April, 2003. Betting against it would have been very detrimental to investing health. Nonetheless, this consensus is factor to weigh, obviously, currently in considering investment position. By the way, I don't think I posted that I took a position in TGA yesterday at $5.07. I don't know all that much about the company (shame on me) but I am persuaded that taking a minor position in it is not much risk if it is your largest position.

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