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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: Paul Shread who wrote (37134)12/4/2000 9:46:23 AM
From: donald sew  Read Replies (4) of 42787
 
Question - What is JOE-SIX-PACK doing right now?

Back in in the early 1990's I helped promote our firms new 401K plans and over the years I have kept in touch with quite a few of those who I had help open a 401k plan. Not that I had alot of experience at that time, but I was one of the few who even knew was a mutual fund was. Keep in mind that I NEVER bought an individual stock until 1995, and I was one of the most educated in the market in our firm of about 500 office staff at the time.

Over this weekend I was able to speak to 15 of my old colleagues, and the overall opinion I got, concerning the market, was that most of them were nervous, but a few were still quite bullish. 2 of them still reminded me how wrong I was back in OCT 1998 for advising them to be cautious and not going long until the DOW got back to the 9000 range. Those 2 are saying that the same thing will happen now as in 1998 and the overall market will be setting new highs in a few months.

I consider them all as JOE-6-PACK, and not one of them has sold anything in their 401k account. Only 1 went from highly aggressive funds to asset management funds.

For this discussion, heres my definition of JOE-6-PACK.
1) strong majority of personal funds in mutual fund accounts
2) own very few stocks
3) those who do own stocks, do not trade and positions are held for over 1 year.
4) do not read SI of any other finance message board on a daily basis

If this is the true opinion of JOE-6-PACK, sorry, but thats not alot of fear. Would like to hear others comments concerning sentiment from JOW-6-PACK.
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