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Pastimes : Home on the range where the buffalo roam

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To: Sam Sara who wrote (11255)	3/6/2001 11:15:35 PM
From: Walkingshadow	Read Replies (1) of 13572

Sam, My comments were directed toward the near-term only (i.e., weeks to a month, two months tops). Market internals also make it clear that there is nothing like the type of buying pressure which can fuel a sustained bull run. This may change, but the moving averages of the $VXN and the $TRINQ, the A/D line and others are not in a range to support persistent buying pressure for any extended period. Can't find much to argue with what you say. KO has a P/E of 58! I suppose the only difference we have is how this will take place. I envision money once again fleeing the techs and the $COMPX in general, heading temporarily for the safer harbors of the blue chips. Then, as the damage widens, mass move to cash and treasuries. I anticipate this will be the set up for a final bottom, sometime later this year probably. WS

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