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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host
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To: Alan Whirlwind who wrote (10291)10/9/2000 4:24:37 PM
From: Mr. BSL  Read Replies (2) of 42834
 
I see we did retest 3250 today on quite heavy volume and then rebounded to almost break even. I should think the worst is over.
Yes, from a TA perspective the bottom is in.

However, we must continue to watch the war sentiment in the Middle East--they're picking a rather nasty time to begin acting up.
Right, this could change everything IMHO.

Notice how the Clinton Administration says today 15% of the SS fund into the market: why not? Looks like a beautiful five year bull once this election is over should this actually come about.
Be careful for what you wish for! I favor 0% SS in the market because if any SS money is in the market, the government will start putting in controls. For example, they would require MF companies to to submit MFs for the "approved government list" Then any fund that had tobacco or SUV's etc (pick your own non-pc stock) would not be on the "list" We don't want the government to get their grubby hands into the market.

Since we're not out of the woods yet as to the chances of an oil shock due to developments in the Middle East, we need to wait a month or two to see if higher oil prices and recession result from present Middle Eastern mess. However, I consider December to be an out-of-the-woods kind of a month. Retail sales up and Christmas rally with falling oil prices.
Sounds good to me.

BTW, MDY and leading stocks (stocks which have made new 52 week highs in the past few weeks) are doing well.
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