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Non-Tech : Invest / LTD
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To: Lucretius who wrote (7188)2/7/1999 10:01:00 AM
From: 007  Read Replies (1) of 14427
 
Luc, my preconditions for crash watch were not met. There was no large cap sell-off to speak of. Fear just doesn't wake up one morning and tell everyone to sell; it needs to be intensified and that is not happening right now. So, we probably bounce up early this week and consolidate sideways. If we eventually break down out of the consolidation, then a correction is likely and I will monitor for crash preconditions, but it is more probable that the market moves up out of the consolidation. If we move up tomorrow, then I will be a buyer and I will no longer be on correction watch, just consolidation watch. <g>

One other point. The economy is very strong and it is doubtful that people will panic until they see the white of the eyes of a recession. This market is bathing in a drunken confidence which has caused it to be fearless and near sighted.
007
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