SELL??? Contrarian indicators in the market Message Board

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Strategies & Market Trends : SELL??? Contrarian indicators in the market

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To: White Shoes who wrote ()	11/12/1996 3:51:00 AM
From: White Shoes	of 19

Hi everyone, I started this thread because it's always a good idea to keep one eye open for the "big one"--a correction or worse--that always seems to happen with no warning. Lore has it that you sell when your barber gives you stock tips and when people brag about the returns they get on their mutual funds. Today alone I encountered several such indications: (1) an old man on the bus and not on his way to the financial district if you get my drift was poring over a chart book circling volumes & such with a pencil...(2) a guy at the gym was telling the towel attendant "I want to get rich...forget fixed income instruments....at 2.5%...forget about it" (3) a manager for the local transit authority was talking to a man in a diner and I overheard him say some incredibly knowledgeable things about the stock market (4) my Dad has now moved into stocks...he has not invested in stocks since 1970 when he lost out on some speculative issues. Oh yes, and there seem to be plenty of people right now who assume that a 15% return on their stock mutual funds is "guaranteed". While all of this stupidity could carry on for another week, month, year, or decade...it's anyone's guess...if things keep on in this euphoric fashion I'll be expecting a 5-10% correction to happen by the end of January. Thoughts? Other examples?

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