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

To: Haim R. Branisteanu who wrote (22378)	8/6/1999 6:51:00 PM
From: Michael Watkins	Read Replies (3) \| Respond to of 99985

I don't think talking about J6P is off topic at all. I'm a white collar working stiff who has J6P's all around me. The extraordinary run has bred complacency. None of my colleages (all 30 somethings and not much older) have any experience with a bear market (actually, nor do I but I have a healthy respect for history!). I see the buy the dip mentality all the time. I detect a little more fear now, but they were out buying today and yesterday. Interesting reaction when the market didn't shoot up today again, as if its their birthright or something! In Canada our situation is worse I think. We are a nation of mutual fund buyers, and have a bad lot of them at that. Dollar cost averaging is the mantra. Buy and hold for the long run. Drilled into us incessantly by the media and by fund sellers. Of course, they have a captive market and fees that are often more than double those in the US. Anyways, I'm sure its no different in many walks of life, from the plumber (was one) to the software developers being part paid in options, there are a great many under-educated people in the market, doing it because they are told so. Buy and hold, buy and hold. Easy for those that have no knowledge. Been there, done that. J6P - I used to be one.