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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host

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To: wooden ships who wrote (7455)8/31/1998 4:15:00 PM
From: Diamond Jim  Read Replies (1) of 42834
 
Truman, I hope this all works out. I wanted another opportunity to hear Bob call it a correction. I actually did quite a bit of buying to day but still sold more in terms of $ than I bought.

I watched last year when the market dropped 500 points but as we all know this 500 on top of a 13.7 previous correction, this was big. I don't know what stops it, Bob listed the 5 things required to be in a bear market, I just wonder if it can only take one if the 5 to cause it. The high valuations certainly were present/are present compared to historic levels.

This weekend Bob had a caller question the possibility of a fall back to historic valuations. I think Bob's answer was that it could happen but he does not see it on the horizon.

Can you imagine DOW 2900 again? At this rate we will be at 5500 by Friday close.

jim
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