Pete and all: Today Brinker expressed no surprise that the present
market correction followed on the heels of the instance of a 70 per
centum bullish investment advisor sentiment measure as gauged by
Investors' Intelligence and duly noted on this thread. Indeed, Brin-
ker referred to the prior market correction (as discussed here),
which followed a similar, dangerously enthiusiastic bullish reading
of 70.1 per centum. Yet calling for new market highs in the major
averages "during this summer or autumn," Brinker stills foresees no
possiblity of a sustained bear mauling "prior to the fourth quarter
or later." This last seemed to represent a slight amendment to a
previously expressed position that no bear was foreseeable until
the fourth quarter. In any case, if memory serves, Brinker does
not envision a market correction of greater than 10 per centum
from the highs at this juncture.
Ps. Pete, I regret that I can not honor your rquest to support the
S.S. Disney Magic cruise venture. The Disney Corporation
has long ago, in my view, disgraced, in a manner most foul, the
grandeur and nobility of the vision of the venerable Walt Disney
to provide the public with wholesome family oriented entertainment
and joy. Through its sundry and cleverly disguised subsidiaries
and divisions, and under the crass, debased leadership of Mr.
Eisner, Disney has seen fit to peddle prurient, violent, blasphem-
ous filth and continues to push, in my opinion, twisted social
agendas whilst exploiting the enormous stock of goodwill built
up by that company's founder. As a consequence, with the ex-
ception of listening to Bob Brinker on the Disney/ABC network,
my family and myself have made the conscious choice not to sup-
port with our dollars the blatant prostitution of Walt Disney's
noble dream and good name.
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