The Justa & Lars Honors Bob Brinker Investment Club Message Board

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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club

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To: Lars who wrote (3634)	3/6/1999 1:13:00 AM
From: marc ultra	Read Replies (1) of 15132

Lars et al, re market move. I had moved some money into cash and GNMA's a while ago but at least fortunately when I saw the market acting like was in no hurry to correct further I covered my modest DIA short hedge position. I just ran my numbers and I'm still 70-30 now. I'm not as bearish as before because the fact is we did have a good sideways correction for a while now allowing us to digest some of the monster move since October and bullish sentiment reading have eased a bit. Also any way you slice it the employment report was bullish especially with all the built in worry that it would spook the Fed .I agree though this is still not a great market and valuation is extreme for what is still a relatively high long bond yield, sentiment is still quite bullish and now we have this issue of a PC slowdown which may be seasonal noise or product transition but may be real also especially when it's very hard to gauge the Y2K effect. Well Bob said he will take another look at things once we reach new highs so we may get an updated view in the next few weeks. By the way Lars I was looking at the Jack White web site and it looks like you can margin and short a lot of the funds they offer. This even included the 2 beta Profounds, Rydex and similar. Can you imagine margining a 2 beta fund? Actually I was very interested since this opens up a whole new galaxy of hedging opportunities if Bob ever pulls the plug. It looks like Waterhouse owns Jack White now and I wonder how the two compare now that Jack White apparently just opened their web trading site Marc

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