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Pastimes : G&K Investing for Curmudgeons

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To: unclewest who wrote (9501)	12/16/2000 2:00:37 PM
From: James F. Hopkins	Read Replies (1) of 22706

What you are missing is to many people keep talking about a bottom..a bottom goes in when all you can find is people talking about the end of the market as we know it. As long as bottom callers get top rating we have more to go, when panic gets top billing we will bottom. Only after all hopefuls have sold and quit till then I'm playing the short side, and every rally you see is people like me taking profits and getting ready to short again as soon as the suckers put in more money for the market to steal. Up trends can run a long time, down trends may not last as long but they do drop faster and that momentum alone ( thanks to index funds ) is hard to stop. We have 3 times as many people in index funds than we did in 97..it creates a mo mo effect both up and down as index funds don't carry a cash reserve they must sell to meet redemption's. We will get a turn around Tuesday this week..& it may last a few days, but as soon as we hit the last high ( resistance ) more people will dump. Nothing is going to get fixed with a rate cut any time soon as that kills the dollar and takes time to work, OIL is not coming down enough , and it's a huge tax on every thing even if you don't see it, also if the dollar falls more; then bonds can sell off faster than they went up. How about both inflation ( falling dollar ) ; & a recession at the same time ( long unemployment lines) We have the right team in now to create both. Jim After GreenSPAM gets unemployment back up to 7%+ and is happy then we will bottom.

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