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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Justa Werkenstiff who wrote (716)9/4/1998 9:07:00 PM
From: Justa Werkenstiff  Read Replies (2) of 15132
 
** My questions for Bob **

1. Why, in his opinion, did the market drop through the floor on Monday and end flat for the rest of the week? Does he still view this as a normal correction exacerbated by the Russian situation and, if so, shouldn't we move to the previous benchmark of 8360 if this situation stabilizes or improves?

2. According to Bob, an intermediate correction is a rare event and the most difficult kind to predict. Last weekend, he felt it would bottom out within a "few" percentage points of the S & Ps 13.7% decline the previous week. Clearly, this intermediate correction exceeded his expectations. In his mind, what has happened?

3. Bob has stated that given an intermediate sell signal, he would go to cash because -- in almost every case -- a bear market is preceded by an intermediate correction. We are the most extreme end of the intermediate term correction level. Has he received an intermediate sell signal in the past week? If not, how can the market have an intermediate correction at the extreme and not a bear market sell signal given the above preference for defensive actions?

I think I know the answer to some of these questions, but I would sure like to hear the answers from him.
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