John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Moominoid who wrote (4701)	9/25/2001 12:43:38 PM
From: John Pitera	Read Replies (2) of 33421

One thing that concerns me is how the Wall street firms keep upping the equity portion in their Asset Allocation Model. And we're seeing record high percentages of the models in Equities. Abbey J. Cohen lifted her stock allocation up to 75% yesterday. Today A G Edwards lifted their equity allocation from 70 to 80%, I think that Jeffrey Appelgate at LEH was already up to 80%. It seems as if the firms are still buying on the way down. and that would be typical bear market behavior. It's been widely said that in the Liquidation Bear Market of 1929 to 1932, not that many people were wiped out on the initial decline into Nov 3rd of 1929, But rather by buying stocks at each new low on the way down to the devasting finally low of 41.26 on July 8th of 1932. A concern of mine is that if they are trying to buy so hard, it's the wrong thing to do and it shows how the bull market buy the dip psychology is still with us. (Thinking aloud) John

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