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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 670.21

-1.1%

Nov 6 4:00 PM EST

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To: Elroy Jetson who wrote (8560)	3/20/1999 3:28:00 PM
From: Casaubon	Read Replies (2) of 99985

what is the driving force for increased earnings, for these 13 stocks that are carrying the market? That is what drives prices higher, earnings? Have those 13 companies accelerated their earnings potential so greatly that it warrants such unprecedented prices? One does not have to call upon the great depression to know that overvaluation is a performance threat. I'll take 5% returns over -5% returns, any day of the week. As I have stated previously, all but one of my 401K mutual funds are in negative territory, on the year. These are managed funds, not index, and are run by reputable companies. The reason is simple: the market got ahead of itself and needs to correct. Everyone is pouring money into index funds and riding the wave, because they have "outperformed" for several years. Well, the truth is most people don't know what they're buying. They just don't want to miss the gravy train! Why sit through corrections when you could be earning interest instead.

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