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Strategies & Market Trends : Waiting for the big Kahuna

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To: GROUND ZERO™ who wrote (45610)	1/15/2000 10:07:00 AM
From: robert b furman	Read Replies (2) of 94695

GZ, You've hit on the most important central feature of this long bull market. POOR MARKET LEADERSHIP as defined by adv/decl or hi/low market internals. Past bull markets all boats were lifted by the tide.That's the difference between the past and now. This great bull market has been significantly different in that its duration has been extended as a result of continually changing industry sector rotation. In 98 my semi equip stock were selling for cash book value now they're the number one sector in performance. All along bears have been crying the end is near yada yada yada. Did the owners of Iomega enjoy the last 2 years of a bull market - not unless they were short. Greenspan doesn't want to pop the bubble.If you were on the treasuries side of this stock market you'd call it the greatest tax generator of all time.Think of the revenue loss that the U.S. Govt would incurr with a full fledged bear market.They'd lose 20 % of trillions of market capitalization. If we are ever to cure deficits and social security this little money maker must be nurtured ,jawboned and protected(as was done during the asian contagion with the 3 - 1/4 rate cuts and high liquidity ). There will be corrections and there will be rotations ,but this market still remains a fertile culture of wealth and capital creation for those who foresee the future's great growth opportunities. I for one would like to see the doomsayers taper their fear mongering and at least be impartial about what has realistically described the market thru several tops and bottoms - neither of which has been marked by overall doom or euphoria. It in the final analysis ,is a stock pickers market where supply and demand of a companies common stock swings to extremes on the hype the company and/or any related firm trying to benefit from the story creates. It is just dynamics of a market's supply and demand.I for one think it will be protected and nurtured by the assets of all players. JMHO Bob

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