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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: KurtSS who wrote (9057)10/3/1999 3:55:00 PM
From: Justa Werkenstiff   of 15132
 
KurtSS: Brinker said he expects the DOW and the S & P to get into the vicinity of the old highs year end or early next year. It was not totally clear whether he meant the same time frame for the QQQ as that was the second part of the caller's question and Brinker gave no time frame. But one may assume he meant the time frame. He did say he thought the QQQ would post new highs. Note the distinction between what was said about the NASFAQ and the DOW and S & P 500.

At no time did Brinker make a case that we were at the bottom here nor did he recommend outright purchase at these levels. He did note so far that this was a standard correction. Y2K could make it worse. New purchase levels to be considered this week.

Implicit in his thinking IMO is that he sees no bear market between now and the end of this year.

FWIW, I believe there is a reasonable chance there will be sell on the news in the NASDAQ this month even if all goes perfect for the market. Fat cats want to lock in profits this year so Mr. Bonus will be at the doorstep during the holiday season. No question there could be rallies here in the month.

If the S & P 500 is 25% tech. stocks and we get sell on the news and/or some bad earnings or guidance we are going down IMO in the NASDAQ and, as a result, the S & P 500.

Moreover, if we get a bad spin of the economic wheel I believe the NASDAQ and S & P 500 are vulnerable irrespective of earnings.

In any event, I have seen no convincing bottom here in the market in the technical sense.

I also believe this is a trader's market until the Fed. is gone and they are not going anytime soon. So if we go to new highs or close and we are still in a bull market and the Fed. is still hanging around, we may well find ourselves back here again.
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