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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: Jerry Olson who wrote (99072)5/24/2000 4:34:00 AM
From: lee kramer  Read Replies (3) of 120523
 
OJ: <do not know why this markets in deep trouble>. I'm not sure either, but Doc Kronkite wrote extensively about markets like this in his best seller "The Truss: Friend or Foe", chapter 147. I'm sure you've read it. It's fear. Fear of what's happened, and fear of what may lie ahead. The doc titled this chapter "Fear Runs Amok"...catchy, huh? He draws the parallel between a good baseball team that goes into a slump and loses ten games out of twelve. The bats grow heavy, the hits don't fall in. The pitchers suddenly and inexplicably can't find the plate...and when they do, the curve ball hangs, the fastball has no "movement." In the field players miss the cut-off man, outfielders converge on a simple fly ball and bump into each other, as the ball bounces off a jostled outfielder and drops to the ground. It becomes a game played by nine Keystone Cops with Larry, Moe and Curly in the bullpen. This strange malaise becomes "infectious"...and, says the doc, it seems like it'll never end. But of course it does. Our trading lately reflects this "fear run amok." Forays on the long-side are careful and QUICK. Stops places are tight. Profits taken are rather small. The only "Buy and holders" making a bundle are shorts...CNBC and others feed this fear. When TIME magazine puts a picture of a bear, body-slamming a bull with a chart of the NASDAQ in the background, on their cover...we shall have bottomed. (Lee)
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