From today's WSJ:
Indeed, quantifying risk has always been a challenge for investors. For many, it traditionally has been closely tied to volatility, or the magnitude of swings in stock prices. For instance, last year, there were 80 trading days during which the Dow rose or fell by more than 1%, up from 18 in 1995 and 43 in 1996. In January alone, 1% price swings were seen on eight trading days, or an average of two of every five trading days. WOW!!!! All this volatility. We must be at a market bottom.
While Mr. Bannon believes the Dow will reach 9000 during 1998, he's confident that the road higher will be a rocky one. "Asia as a market psychology event is over," he says. "But Asia as a fundamental event is still ahead of us, and I'm not sure that everyone is ready yet for what that will mean for earnings in the first and second quarters." Well, are you a bull or a bear, Mr. Bannon? Or are you just riding the fence and hedging your market forecasts? ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ |
