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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host
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To: jwag who wrote (4784)4/28/1998 3:14:00 AM
From: marc ultra  Read Replies (1) of 42834
 
I don't think Bob would want to tarnish the image of the gift horse by calling for a gift horse opportunity at these valuations and mildly deteriorating fundamentals. I would guess he still would find the market attractive for purchase below 8000 if his model doesn't deteriorate which would seem to be around a 10% correction from the highs. If I remember correctly this market is looking a lot like 2 years ago when a speculative frenzy ended in a nasty correction followed by an eventual move to new highs. There usually seems to be a pop in interest rates and the small and midcaps seem to get hurt the worse even though the most overvaluation is in the 500. A good correction here while painful can be helpful in keeping the fed on the sidelines and dampening the wild speculation as some of these speculators get margin calls and a dose of reality
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