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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: dennis michael patterson who wrote (17427)11/5/1998 4:56:00 PM
From: Judy  Read Replies (3) of 42787
 
Hello, dennis

The market trades according to different criteria at various times. It is now moving based on momentum, sentiment, and liquidity ... and the greed factor is overriding the fear factor. The previous fears ... slowing earnings and revenue growth and economic recession ... have been calmed for a quarter or two by the Fed's preemptive move.

We started talking when the DOW was trading at about 7600 and you asked what I did about our IRA accounts. I said we did not exit near the top, there was no point exiting at the low when the market could reverse up at anytime. Rather I directed new IRA monies to very beaten down sector funds, hoping these funds would increase with a vengence when the market recovers up again. Our account balance is probably near what it was when the market was at it high, but now we also have more shares of the beaten down sector funds. Whether a recession will hit the US economy the second half of next year is unclear, but I will stay with this strategy. The hard part is not getting out at the top ... the hard part is knowing when to get back in.

btw, I'm listening to CNBC as I type this post. Some analyst is saying a retest of DOW 9400 might be possible before the market will reverse. Doom and gloom a month ago, and euphoria now.

What other market timing publications do you subscribe to besides Favors? Can someone post John Murphy's intermediate-term market outlook ... last I heard, he had reversed to the bullish camp.
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