To: dennis michael patterson who wrote (27843 ) 9/29/1999 12:04:00 PM From: pater tenebrarum Read Replies (1) | Respond to
Dennis, although i am currently in the , lets call it 'medium term bear camp', i agree with LG that your post contains some very good arguments for the bullish case. especially the strength in the nutz you mention is something that is very supportive, as they have led the market on numerous occasions. i suppose there are many people like me out there who are prepared to buy and have their shopping lists ready...but just not yet. i am waiting for some fear to creep into the market first. i haven't seen that yet, and '99 is so far the year that marks the peak in complacency in this bull market as not even hedging strategies are pursued anymore by the fund managers. i realize that i may miss catching the bottom and the market could begin to run before i have pounced, but as i have mentioned before, the risk/reward just doesn't cut it for me at this time...the stock market may ignore the bond, the dollar and gold right now, but my experience is that this is dangerous when it happens...often a delayed reaction will follow when participants all at once decide to take some chips off the table. while i continue to trade options as well as individual stocks both short and long on a ST basis, i am not yet prepared to enter into longer term positions here...i still believe we will see better prices in the future. one exception to this are the gold stocks which i picked up near their lows...when something trades at 20-year lows one can afford to take a longer term view on it.
