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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Hank Stamper who wrote (7860)8/18/1999 11:05:00 AM
From: Kirk ©  Read Replies (2) of 15132
 
Can yesterday be marked as the day of the inflection point?

lol... yes it could but is it?

Many suggested awhile back that we are in a big correction and recent strength is just a retrace of roughly 50% in the S&P500 which many consider the ONLY measure of the market (unless you have a Wilshire5000 index to track). I don't understand or follow how the DJIA is sometimes important, and then other times, it is not. Mr. Brinker said something about the DOW being important this weekend, but I didn't listen carefully or hear much of the show so I don't know why he NOW thinks it important. I still think we look at the overall market and it is in a correction with SPY about 6% off its peak as I type.

MY thinking is we are still correcting and will for awhile and when earnings catch up more, we will resume the bull trend. Buy the dips and sell the peaks to make money or reposition for profit and diversity using the cycles to maximize profits or just sit tight in your index funds as we cycle until fundamentals catch up. Remember that time is also a fundamental so we could sit and wait 6 months and then have much better forward p/e... Many, many market pundits say pretty much just this. To me, this would be healthy for the market.

regards
Kirk out
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