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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: marc ultra who wrote (8879)	9/26/1999 7:48:00 PM
From: marc ultra	Read Replies (2) \| Respond to of 15132

Let's see where Bob's model might be these days. Valuation still high but P/E on the S&P now down from the 28 maximum, maybe around 25- 26 now. Monetary probably pretty bearish based on reduced money supply growth. Sentiment, Investors Intelligence bullish sentiment has moved from the chronically high 60's into the 50's with the last reading I believe around 58. A similar moderation in bullish sentiment is noted in the P/C ratio where the 10 day moving average is currently 0.66 after moving around the 0.5 and slightly lower area earlier this year. As to the economy we may have future issues developing but at the moment no sign of imminent recession. Doesn't sound like a model screaming sell nor one screaming buy either. We may have the interesting situation where a final top formation appears to be going on similar to 1976 but the crucial aspect from Bob's perspective, a sell signal by the model is just not there yet. If this latest correction turns around and starts rallying this week perhaps in response to an improved dollar following the G7 or from who knows what, we could get a move back to the 11k area which would then look strikingly like the 1976 top and with the increased valuation, perhaps increasing bullish sentiment and no help from the money supply area the model could then issue a sell. Marc