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Pastimes : Ask Mohan about the Market

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To: D & G who wrote (9872)12/1/1997 3:18:00 PM
From: Cynic 2005  Read Replies (4) of 18056
 
Don, 20,000 by 2000 is more likely than in 2003. Serious! The fear of missing out on profits is nearly as powerful as the fear of losing money. However, the former creates a liquidity crunch making the latter look more powerful. IMHO!
I am glad you mentioned IBM. One wonders about the leadership of this surge, which is coming from a corporation which has reinvented itself through financial engineering rather than innovation or market leasdership. Trust me, it tells you quite a bit about the quality of this rally!
Take a look at the new-highs on NYSE. Still dominant are the utilities and foods. Also, quite a few financials and regional banks are setting new highs. Surprisingly, all airlines are soaring. Perhaps the street doesn't consider them to be cyclical any more!
Whether one buys calls on dips or puts on rallies, timing on selling makes all the difference. Looking at the performance of my own accounts, I am not a happy-capmper myself. But, I am hanging in there as I see a serious sell-off beginning Wednesday.
-Mohan
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