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Strategies & Market Trends : Bear!

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To: Terrapin who wrote (9)4/26/1998 11:49:00 PM
From: Steve Joyce  Read Replies (1) of 271
 
John,

I am not really sure whether or not things can ever be explained simply. In theory I completely agree with you. There is a level of
demand created by retirement plans that did not exist on this level years ago. If we are talking on a very abstract level this increase in demand can change our views of historical valuations and how we apply them to today's markets. I personally feel that the markets are still open to a violent correction. In theory the demand created by
retirement investors being guided by brokers that sell the idea of dollar cost averaging and the long haul makes the idea of a prolonged bear market seem unlikely.

SJJ
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