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

To: Allan Harris who wrote (9569)	10/29/1999 9:27:00 AM
From: Carl R.	Respond to of 15132

Perhaps you can find an internet site that sells the Flowbee? Carl

To: Allan Harris who wrote (9569)	10/29/1999 9:26:00 PM
From: Justa Werkenstiff	Read Replies (1) \| Respond to of 15132

Allan: Re: "All, or at least most of this has already been factored in the market and is evident by the lackluster YTD performance of the broad market and the bear market performance of the advance-decline line." On the other hand, the market could be mistaken just as it was in July about Greenspan. When Greenspan gave a neutral bias, the market went ballistic and was wrong. But I can't argue that the bond market tells a different story today. Geez, the bank index made up for months of losses in just a couple of days. And it may be that the bond market sees the economy as slowing sufficiently. I don't see it yet. And I don't think it can slow with the market in ballistic mode -- the NASDAQ especially. Re: "The current condition of the various Point & Figure timing indicators, specifically the High-Low index, the DJ-Bond index and the NYSE Bullish Percent Index are all at levels from where Major rallies have begun in the past." I have to agree that the market was oversold and I have posted before that this is a trader's market with swings to the upside and downside at least until Greenspan is out of the market. I don't think he is out of the market at all especially with market perfromance today. Now the consensus is that he will take three strikes and be out. I disagree. If the wealth effect kicks into gear this holiday season, he will be back sooner rather than later and more often than discounted by the market IMO. As far as the market goes, it is now priced to perfection in a world where we are living on the edge. The market averages do not reflect the risks today in its price IMO. It has assumed that low inflation and low unemployment and high and/or increasing demand situation can exist into the forseeable future. It has extrapolated the present out into the future. So it is extremely vulnerable. In Greenspan's mind, there is no question that this situation cannot go on forever. He has said so often and last night as well. An ever increasing demand is cannot be sustained by the current labor force without causing inflationary pressures as we have seen all too often in the past few months. The only question is when and by what means this economy must slow. And I bet tonight Greensapn sees that the chance for slowing without Fed. jawboning or intervention is less than it was yesterday. Re: "If the market starts up and makes higher highs and higher lows, the very tradable probability is that we are back in full blown bull market mode." If the market goes up into a bull market rally of onward and upward, Greenspan will put an end to it soon enough unless the economy is slowing or the bond market does not get to it first. But let's spin the wheel for the next economic number. Re: "As for me, I have to go into town today to get a haircut. I tried all of the Internet sites and not one of them offered this service over the net. Perhaps and opportunity?" Amazon sells wigs for a temporary fix. Buy.com is giving them away <g>.