David,
Well I guess I'll chime in here (who else would you expect to do so? >>gg<<).
I have maintained a long term bullish stance on the market all along. I will continue to do so until 2005 at least. Sheesh...first Ralph A, now John B. and all the while what's her name has flip-flopped nearly every day. The "pros" out there are really getting on my nerves.
I'm sticking with Harry S. Dent Jr. Baby boomers were innovators of current and future technology that they (we) will continue to adopt and adapt to. After all, they (we) created it and as such feel comfortable with it as well as have it as a basis upon which to live with and use. The efficiencies created, coupled with the sheer size of the boomer population bubble has proven Dent's hypotheses over the last 2 years alone when you consider the result of the 2 most talked about dynamics in the stock market to date; the explosion of a new and revolutionary technology (the technology that supports the dynamic exhibited by the internet) AND the resiliency the market has obviously exhibited directly in the face of "the global economic meltdown". As far as I'm concerned, and I've said it before (about 7 months ago looking forward to the present), the wave of currency devaluation that is now, obviously, drawing to a close (sheesh, who's left??), has been a natural process of isolating the weak so that the strong WILL survive. If you go back into the comments made by uncle Alan G. you will see that 3 weeks after I first postulated this, Alan said, in a Humphrey Hawkins session, that there was NO intention at all by the major monetary powers of any type of "weeding out process". HA!!! There has certainly been such a process. It's now drawing to a close. Uncle G., in a more recent address nearly stated in extremely transparent (for him anyway) fashion that the global economic leadership had a grip on things and even though there would be a degree of uncertainty along the way, the fix was in. In other words, the classically defined wall of worry was well in place. Since then the Dow has gone from 7300 to 9600 while the Naz has gained a solid 50%. Alan is cool. I expect the NASDAQ will continue to drag the Dow kicking and screaming to my target.
Dow 11,400 before the end of July.
Doug R |
