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Technology Stocks : America On-Line (AOL)
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To: David Petty who wrote (21134)6/10/1999 12:35:00 AM
From: C Nelson Reilly  Read Replies (3) of 41369
 
OT OT Re: Jerry Favors Market Forecasts

I was in a bar once in Battapaglia, Indiana, pounding down some triple witchin' brew after a rough day in the market. My drinking buddy that day was long the bond and short of intelligence when we got to battin' around a few theories concerning the direction and strength and underlying valuations and fears and what not in the market place at that time. I had some drunken analyses and blustering theories that I proceeded to illustrate with the artistic acumen that usually accompanies such incoherent states of revelation in a dimly lit bar - namely, I drew a few charts on a napkin. My friend and I discussed all this stuff for what seemed like hours and when we left there was a pile of empty Zima bottles and enough inebriated scribbling debris to warrant a $2 tip to our put upon waitress.

I thought nothing and remembered nothing of that night until a few weeks later I saw Jerry Favors on CNBC. His commentary and predictions sounded familiar; he looked familiar and yet somehow made little to no sense to the rational and analytic side of my brain. I then realized that I seen him cleaning my table at that bar in that bullish little town where I had let loose with my wildest ramblings and prognostications in the presence of my equally impaired friend. The charts Favor used on CNBC were exactly as I had drawn them on the discarded napkins - EXCEPT THEY WERE UPSIDE DOWN.

I have used Jerry Favors as an ultra reliable indicator ever since.

Yours in the summer sell-off,
C Nelson
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