Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (34754)	6/5/2003 9:23:29 PM
From: EL KABONG!!!	Read Replies (1) of 74559

Hi Jay, Gold isn't money? News to me, as gold is just as good an exchange medium as any other tender... On another note, if anyone cares to glance at the charts, the S&P500, the DJIA and some other lesser indices are all up over 20% now since the March lows. Technically, that performance qualifies as a bull market, not a bear market rally. Quickly perusing some charts, it looks to me like the bull is free to run for at least another 500 to 700 points before the Great Wall of China (Dow 10000) might prove too formidable to cross. While the bears may be correct in the long term about where the markets will eventually be heading, the short term outlook is anything but bearish. I was considering a small buy-in to a bear fund (maybe $2500 into Rydex), but to do so right now would be tantamount to financial suicide, at least for the buy-in capital. I think I'll wait for the big approach to 10000 and risk some money at that time. I briefly talked with a broker from TD Waterhouse today and she said that money is coming back into the markets from all quarters right now. The biggest reason why? People can't earn enough interest in cash vehicles to justify retirement plans. So they're now willing to speculate in stocks, hoping for a payoff that's better than the money markets. KJC

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