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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club

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To: Kirk © who wrote (6533)7/3/1999 10:40:00 PM
From: marc ultra  Read Replies (2) of 15132
 
Kirk<<<<<Could we be getting over diligent?>>>>

Yeah, I ain't going to worry about these stupid condoms anymore<g>. Actually, while I have been a scared bull a lot of times, based on the current market situation, Bob's recent remarks, sentiment and other issues going on like what I posted about current margin debt makes me about as down on the market's prospects as I've been in a long time. I recall Bob having said a while ago he wanted a 10%-15% correction to restore health to the market. We never got that and instead we got a little 6% or so dipsy doodle correction which was tested and sent us on another rocket launch now. Bullish sentiment never eased off much nor has the economy and we are fighting the fed etc. I think this return to neutral bias may in hindsight have turned out be a great gift to those who saw it as an incredible opportunity to get out at the top. It will be interesting to see how concerned Bob is and how long and how high he will be willing to ride this especially if there's still some buying panic awaiting us

<<<Could earnings come in strong and the Fed's already apparent liquidity tightening help the economic and valuation "concerns"?>>>

To my understanding the Fed's liquidity tightening will only be a negative for the market especially at these levels. Yes earnings are supposed to be great but it seems everybody and their grandmother are saying that so I wonder if this move up is largely a rush to get in ahead of anticipated great earnings. If true it may be hard for earnings to help the market.

Marc
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