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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host
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To: Joe Dancy who wrote (932)7/19/1997 5:02:00 PM
From: wooden ships   of 42834
 
In re: Saturday monologue. Brinker expresses measurable reservations
about current, overt market bullishness, especially as it is infecting
the media and registering on other barometers (exempli gratia, Market
Vane).

Brinker alluded to an un-named financial network which spent
an entire day celebrating DJIA with absurd pomp and circum-
stance. CNBC-TV did its best to lead the pom-pom cheer last
week celebrating this milestone. Perhaps, this is the network
to which Brinker referred. Bob also cited manic print press
paeans trumpeting DJIA 8000 fever.

Echoing a refrain heard before the deep market retrenchment of
1996, Brinker avowed that there are "individuals in this market
who do not belong there and who don't understand market risks"
or words to that effect.

Brinker noted that, per his prediction pursuant to the last gift
horse buying opportunity (under DJIA 6600), technology and
pharmaceuticals stocks have led the charge. Brinker recited his
prior thoughts regarding a notable move to the smaller caps away
from the big caps with skyscraping valuations.

In no uncertain terms, Brinker announced that he does not expect
DJIA 9000 in 1997 although he remains overall bullish, according
to Saturday's monolgue.
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