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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments -- Ignore unavailable to you. Want to Upgrade?

To: J.Y. Wang who wrote (11675)	10/17/1999 10:24:00 AM
From: RockyBalboa	Read Replies (1) \| Respond to of 18998

JY, I am more embarrassed by Cramer's "linear thinking" which leads his article. As compared to short positions: If a stock deserves to be a good short, it could eventually trade zero, it does not mean that it is a short position in super bullish times, a fact many die-hard shorts missed last October and later. Likewise, Cramer states (in restrospect, of course) that selling was the dumbest last October , when the fed had the means to turn around the market. But what I'm missing is that Cramer asks himself whether a further upswing is probable in a likewise tightening (and no longer deflationary) market environment. It seems that no one has noticed that the market is about 30% ahead of last years October levels, an altitude hardly warranted by improving earnings (or the lack thereof). That said, at least a wait & see attitude may be warranted, in contrast to ever-parroting "buy the dips, buy the dips". I remember the fine print of AGs statements very well: Last year, Greenspan stated, roughly: "Assets have been selling off, regardless whether good or bad. .." This year, he roughly stated the opposite, without appealing to the cheapness of "some" assets. is. As a result, I think that the dow could fall back to its major 7.7-8.000 support, after testing 9.300