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Non-Tech : Bill Wexler's Dog Pound -- Ignore unavailable to you. Want to Upgrade?

To: Bill Wexler who wrote (5283)	12/5/1999 11:18:00 AM
From: RockyBalboa	Read Replies (1) \| Respond to of 10293

When markets are relatively stable I'm either very long in a declining interest rate environment and less long in a rising interest rate environment. I have to call 'em as I see 'em...even if that means that my opinion has to change rapidly from one month to the next. I've never seen a market like this - and it requires to be much more of a trader than at any other time in my life. Could the recent vastly increased volatility and choppiness over the last 1, 2 year time span point to a change in direction of the long term (20, 30 year) development? (In shorter time frames "choppiness", coupled with increased volume but no major price changes often indicates a change in direction). On the other hand, each intermediate bottom (Apr 1997, Oct 1998, Aug 1999) was higher than the previous and the subsequent rise lead to new highs.

To: Bill Wexler who wrote (5283)	12/6/1999 9:19:00 AM
From: JDN	Respond to of 10293

Dear Bill: I've never seen a market like this - and it requires to be much more of a trader than at any other time in my life. AMEN TO THAT. I too have been in the market a long time (since the late 1960's)and have never seen such a market myself. Course during this time the Cold War has ended, overseas markets have become more open and some governments less oppressive etc etc. A lot has changed in our lifetimes. I am beginning to think it is a new paradigm. Not that the rules of physics have changed but that the manner of carrying out the rules may have. For instance, I think we could have rolling corrections within an overall bull market. If that is so, then it becomes a stock pickers market. As an example, it wasnt that long ago when many pundits said all you had to do was allocate your investments by the proper industries and not worry so much about just which stock ie Technology, Finance etc etc. I dont think thats true anymore. So, its now more of a challenge but the rewards for meeting the challenge have never been higher either. JDN