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Non-Tech : Dorsey Wright & Associates. Point and Figure
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To: Tigress who wrote (7769)5/10/2000 12:02:00 PM
From: Riskmgmt  Read Replies (1) of 9427
 
Tig;
I believe in the 70's there was a huge readjustment of P/E's. I hope this isn't the case here.

On the plus side the baby boomers have their money in IRA 401k etc and this money has to be put somewhere. I can not see fund managers putting money in TBills when you have earnings like Cisco just reported. 55% increase in revenues.

It appears that too many people who ignored TA in the upswing have suddenly become TA followers and are waiting for the bounce, the bottom, the retest etc. I was at a party the other day where a school teacher who has been in the market 6 months told me that she was going to add to her tech stocks after the retest. Her broker had told her this always happens. Always and the market direction don't belong in the same sentence.

ray
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