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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Compadre who wrote (16244)	6/7/1999 1:58:00 AM
From: American Spirit	Read Replies (2) \| Respond to of 99985

Perception is king. Absolutely. And perceptions change like the wind. One thing is for sure. No perception ever stays the same for too long. Look at some of the recent perceptions for example: - Buy AOL nomatter what price and hold for life (time to sell) - There is no inflation (time to sell) - Clinton should resign now to save the country (as if) - We're in for inflation and rate hikes and a crash - Net stocks are horrendously overvalued (time to wait then buy) - Amazon is worth $20 a share (time to wait then buy) - Y2K will wipe out IT profits (time to buy) - Y2K stocks are worthless (time to buy) - The war is depressing and is a total quagmire - Drug stocks stink. (time to buy) - Cyclicals are the only way to go (time to sell) - Buy gold! (fuggetaboutit) - The Yankees cannot be defeated and the Red Sox suck (go B'sox!) Most if not all of these perceptions have quickly changed. In fact they are contrarian indicators. Will they change again? Only Allah knows. And only Pedro Martinez rules. Correction, at 11-1 the mathematical probability of Martinez losing (as Clemens did today) is getting high. What is the most maligned stock or sector in the market? Probably the one to buy. What stocks look unstoppable? (Time to sell) Are we having fun yet? Everyone says there's a rally tomorrow including me. Uh oh.