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Strategies & Market Trends : A.I.M Users Group Bulletin Board
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To: OldAIMGuy who wrote (5432)8/27/1998 5:16:00 AM
From: Bruce A. Bowman   of 18928
 
Hi Tom- Like many, I find solice in knowing that I'm not the only one that's tapped out for cash. I think I have all of $1,500 left. That may buy baby a new pair of shoes, but not much else. Seeing the IW go tumbling down is comforting, but the real comfort will come when it goes screaming back up again. As you said in the report, relative valuation is the culprit with 3 choices for correction: price goes down, earnings go up or both. All indications suggest we won't see positive earnings surprises for awhile because of world currencies choking sales. That eliminates possiblity 1 and the remaining 2 choices are going to involve more pain to one extreme or another.

So I guess I have to follow your lead and start cheering for a few rallies here and there to get the cash reserve built back up. And hope that the rest of the portfolio doesn't sink too far while relative valuation groans and twists to whatever end it's headed. With all the scrambling that's going on in the various sectors and groups, it's going to be interesting watching for the first sign of life. I haven't tried to look at the crystal ball yet, but if I had to make a guess it would probably be October or November at the earliest.

Bruce

ps- yes, as a matter of fact I do have a pile of shares ready to deliver at the first sign of interest! :-)
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