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Non-Tech : Home Depot (HD)

HD 370.45

-0.2%

Nov 10 3:59 PM EST

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To: Mesaba who wrote (547)	3/14/1999 2:16:00 PM
From: Toby Zidle	Read Replies (1) of 1169

It's questionable whether the 'old rules' apply in this bull market. What appears certain is that as long as money keeps flowing into IRAs, 401-Ks, mutual funds, etc., this money has to be invested. As long as the market goes up (with allowances for short-lived corrections), no one dares to leave their funds in CDs and 3%-interest savings accounts. That leaves unanswered the question of what happens when this old Bull finally dies. Usually the most overpriced stocks are the ones that come down with a vengeance. This is when we'll see that the 'old rules' do indeed apply. So don't throw the old rules out the window yet. Leave them tucked into the lower bowels of your hard drive so that you can resurrect them when needed. Sooner or later, they will rule again. Don't let these comments infer that I think that the next few months will turn into a bear market, or that I think HD is overpriced at $66. Not at all. The current market conditions may even last well into the year 2001. But at some future time, things will fall apart, and that's when the 'old rules' will reign again.

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