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Strategies & Market Trends : MDA - Market Direction Analysis

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To: maceng2 who wrote (61098)	10/20/2000 4:06:15 PM
From: da_cheif™	Read Replies (2) of 99985

this from stack...quote from Barrons.... June 9..We truly regret missing this advance that started last december and we apologize for making what may turn out to be one of our worst mistakes. Our reputation and track record weren't earned by sitting out profitable advances. (but) we are alarmed at the psychological extremes in today's market. Seldom, except perhaps in mid 1987, can we remember such brazen confidence among bullish advisors. Confidence in the economic outlook, Confidence that the Fed has everything under control.. Confidence that even though stocks may be expensive and overextended, the downside risk is negligible. The conviction that stocks can only go up is perhaps most conspicuous in those investors with high cash who view this rally not as a missed opportunity, but as actual lost capital. It's almost to the the extreme that admitting holding cash is tantamount to admitting that one has a social disease. In short, the psychology today is 180 degrees out of phase with 1991, when this bull market was in its infancy...We want to be particularly careful not to turn a small mistake into a major one. And the last thing we wish to do is become one of the statistics when the mania music stops and the overzealous herds head for the exit...end quote....so there you haveit....stack the moron who claims to have an earned reputation to protect proves that he knows absolutely nothing about the market...BTW that was quoted out of barrons dated june 19 1995 at dow 4400././.

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