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Strategies & Market Trends : The Stock Market Bubble
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To: John Patterson who wrote (2193)10/20/1998 3:41:00 PM
From: Terry Whitman  Read Replies (1) of 3339
 
JP, I would hold on to that Rydex fund. IMHO, you have just seen a secondary top of the markets today. The DJI is right at it's 200 day MA, and the NAZ is at it's 50 day MA. Barring further manipulation by the Fed and the PPT, these MA's should hold as resistance... and it's down from here.

Bear market rallies are fast and hard, but O so fleeting. The harder and faster they are, the more money that can be sucked in before the next selloff.

Valuations, unfortunately don't really have much to do with the direction of the market- they do however tend to return to the median in the long run. And it's been a long run since they've been anywhere near the median.

If that doesn't make you feel better.... then join the herd, go long, and hedge yourself. :)

Regards,
TW

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