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Strategies & Market Trends : REITS - Buying 1 - 2 weeks before going ex-dividend
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To: Richard Barron who wrote (2494)1/6/2004 5:08:13 PM
From: gregor   of 2561
 
Hello Richard:

The market is getting a little frothy. I spent all day yesterday selling positions. Anytime the Dow is up 125 and the S&P is up over 1.5% I am go going to be a seller in that days session.

The tops are usually characterized by sector rotation and that is what we are having. I thought about getting heavily in the drugs and healthcare about three months ago but have barely beaten the S&P over that time frame. It is a very difficult atmosphere to be investing in.

One thing that I know for sure is that when new positions are taken in periods of relative stability, low interest rates and low inflation: when the Naz is selling at over 40 times earnings and the dollar is selling at record lows you are not supposed to make money in the stock market.

I am going to take the attitude that a gift has fallen from the sky and that this has been the mother lode of all bear market rallies and sell into the good days. I'll wait out the storm in some very short duration bond funds and try to wait on the next series of good waves. I do not feel that we will have a correction without a topping pattern but I don't even think I will time those wild gyrations.

I think we have already seen the top on the ^rms....593.10.
I hope you are right and I am wrong however. Best of luck and Happy New Year....gregor
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