Bob Brinker's 2008 Market Commentary
Has Brinker said anything about the markets since they were at 1400? I don't listen much during windsurfing and Cal football season but I read Honeybee's great blog for the weekly summaries. I can't recall the last time she said Brinker talked about the market. I saved this quote for reference:
June 2007 with the S&P500 at 1530.62, ”We rate the stock market as attractive for purchase on any weakness that occurs in the area of the S&P500 Index mid-1400s. Above that, we recommend a dollar-cost-average approach.”
I thought he was fully invested at the top (1565) so what is the deal with an all in buy in the mid 1400s?
Bob Brinker on the radio May 31, 2008 when the S&P500 was last at 1400:
From tinyurl.com
“What we have right in here now is evidence that the Cassandras, who earlier this year, were telling us we were in recession – right now they’ve basically – well I’ll be kind, basically, they look like fools right now.
….So what we have here basically, is an example of false prophets and it’s sad. And the reason it’s sad is the damage done. Think of the people that are looking today at the market, S&P at 1400 and they’ve been scared out of the market in the first quarter by these bears………
It’s just amazing and yet these people are out there, and these people are not happy, I’m sure, to find themselves out of a rising market since March. To find themselves looking for ever lower prices when in fact we’ve had the opposite."..
and
June 2007 Marketimer: ”In our view, the valuation based secular bear market that was established following the March, 2000 closing high for the S&P500 index (1527.46) and following the January, 2000 closing high for the DJIA (11723), reached its conclusion on June 13, 2006 at the bottom of the mid-term off-presidential election year correction.” |
