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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host
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To: marc ultra who wrote (6864)8/15/1998 9:49:00 PM
From: marc ultra  Read Replies (3) of 42834
 
re:fear:
It is great to see the level of fear and doubt on this thread today. This certainly indicates that the nervous nellies who don't even listen to Bob must be slowly getting cleansed from the market along with the 30% a year birthright believers. From my calculation as of Friday night we are 2.6% below Bob's buy point on the Dow and 3.5% on the SPYders. This is the whole point of a buying opportunity, it is a point where there should be relatively limited risk on the downside if correct. I don't have a clue why anyone would think Bob would have anything else to say today other than it is a continued buying opportunity at these prices. There is almost always at least some bad news that creates a buying opportunity like the two times interest rates spiked up once as I recall well over 7%, which both turned out to be great gift horse buying points. So far we've seen an initial buying point correction low that has now been tested twice on exactly the relatively light volume Bob predicted. If we fall another 5% for example especially on heavy volume then then there is little question that this more than a short term correction and those who wish to spend their time trying to prove Bob wrong about something can make a case.

Marc
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