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Strategies & Market Trends : A.I.M Users Group Bulletin Board -- Ignore unavailable to you. Want to Upgrade?

To: LemonHead who wrote (8714)	10/3/1999 2:46:00 PM
From: steve in socal	Read Replies (2) \| Respond to of 18928

hey keith---think you got it right in your response to bj. i'm not sure what it is that makes me enjoy reading the columns by tom petruno, lead financial writer for the LA RAG. i guess it's what i perceive to be his common sense attitude and the fact even doltish i, don't feel he's talking down to me. today's sunday sermon was about how when the market is "bad", it can be good. and since we haven't had a massive period of selling lately it was easy to lose sight of the fact that through last tuesday, the average nyse stock had fallen almost 28% from its 52 week high. that's three times the dow's decline. the average nasdaq stock is down almost 38% from its 52 week high. also, over 37% of all nyse stocks now are down 30% or more from their 52 week high and over 62% are down by more than 20%. on the nasdaq, over 52% of all stocks have lost 30% or more from their 52 week high and almost 71% have lost 20% or more. WOW!!! petruno has a bell curve chart he refers to that has EGO as the driving force midway up the curve, GREED fueling the top of the bell and WISHFUL THINKING as the impetus halfway down the curve. when stock prices are depressed at the bottom of the curve investors view stocks with contempt. as they start to rise contempt turns to caution and then to confidence as EGO kicks in. at the top, or the GREED state, conviction rules and even as stocks start to fall down to WISHFUL THINKING, complacency is the felling before turning to concern and ultimatly to capitulation which leads to contempt and we start all over again. i guess the great thing about AIM, as "our" tom has said, is it takes all this emotion out of investing and makes for less sleepless nights. hope you're having a great one. my mouth waters every time you mention cheese grits. can't believe they haven't been a staple part of my diet. i guess the only thing that comes to mind is my mothers potato latkes, made with equal parts love and grease. only problem is mom's been dead almost 15 years. hmm? maybe it was the latkes!!! salivating in solvang