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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Lars who wrote (1781)10/24/1998 6:27:00 AM
From: Justa Werkenstiff  Read Replies (2) of 15132
 
** Wall Street Week **

Lars: Boy are you pumped. Get out of the way as Lars is fit to be tied <GG>.

I was sobered watching Wall Street Week last night. Lou Holland thought this was a bear market rally and that we would go through DOW 7400 on a retest. He was bearish but was recommending financials like Citigroup and thought the chance of recession was 50%. I don't pretend to understand his analysis as if you are bearish on the market, why would anyone be in stocks let alone financials. Maceo Sloan <sp> was bullish but also thought we would go through DOW 7400 on a retest and that when we go back there we should load up the truck on stocks. Now, neither of these analysts provided any rationale for their piercing of the lows but both were expressing extreme confidence in thier opinions. It was interesting that they both shared the same view of the market but one called himself bearish and the other called himself bullish.

We are now at where we were when the last benchmark broke loose to the downside in the market. In other words, we are at a resistance level.
Now we can't rule out some choppy days to the downside as the market had a nice run this week, but I can't figure out what these guys might be seeing a reason to pierce the lows. Anyway, it was an interesting show and I would recommend it.
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