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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: J. M. Blackburn who wrote (14164)6/2/2000 9:20:00 PM
From: Justa Werkenstiff  Read Replies (4) of 15132
 
JMB: Re: " I think. I unloaded about half my positions. My B2B's, NVLS and a few others are in the bank."

It don't count until it is in the bank. And there are certainly no guarantees in this market. Look at the Naz volatility. I have never seen anything like it before and it is without historical precedent. In eight trading days and from the bottom, the QQQs went up 30% to over 94 from 72.
Pinch me.

Re: " If the market corrects and BB still says summer rally, we can always get back in."

I don't think it will correct anytime soon to allow for a new entry. The volume today was huge on the Naz on those weak numbers. Block buys all day. All the mo-mo heads will be chomping at the bit to play again. Rotation back into the technology will be the game. Watch all the upgrades and reits on Monday. Chartheads and techies have woodies after today. Triple witch expiry means it is time for some pump and dump. Some things never change.

BUT, if that print on the jobs report is real and portends a TREND, there is one real slowdown around the corner IMO. At most maybe one or two rate hikes have worked their way through the system. What happens when the other four or five bite? There will be some earnings misses.

But for now the wealth effect is alive and well. More equity gains means more consumption (look at that consumer confidnece) and in a few months we will be right back where we were again with a economy that is too hot for the Feddies, although it probably will not be as hot as it once was earlier in the year.
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