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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Math Junkie who wrote (10322)12/7/1999 8:47:00 PM
From: Justa Werkenstiff  Read Replies (3) of 15132
 
Richard: Re: "Now that the Nazdaq has turned in yet another record close, I find myself wondering if the present rally is not being driven by investors' expectations of a Y2K relief rally in January."

Yes, I agree. This is the Y2K rally. Portfolio managers want to ride the wave of tech. to the end of the year. Liquidity in the market supports this as well. And the individual investor wants more. The Greenman is too worried about Y2K now to care. Catch the wave.

Re: "If that is what everyone is expecting, we may see some serious profit taking next month."

Yes, I agree. BUT the S & P 500 has been acting fairly tame here along with the DOW the past few days. That is the good news long term. If we have a market melt-up with strong GDP and a tight labor pool with no signs of slowing, the Greenman will find the hammer. This is why I do not understand why Galvin is so pleased with his prediction here because if it comes true it will fail at the hands of the Greenman. Meanwhile, there are some bargains being presented during tax loss selling season. So I will just stand aside and ride the tech. wave while buying some bargains outside of tech. land that the stupid institutions don't want to hold. I want them to ride the techs. higher and higher here because it is now sucking the money out of other sectors and is creating some real value. Let them buy Yahoo -- the more the better.
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