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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Doppler who wrote (155)	2/26/2000 2:57:00 PM
From: Chip McVickar	Respond to of 33421

Jeff, I've come to enjoy these blinders. <<smile>> I prefer to call them eye shades like race horses use...! Why give them up? Believe me..., every time these markets stumble, I take a peak out both sides. Having owned GE since 1985 and never sold, with this coming split I'll be up over 750%. If the markets stumble I'd still be up 500%. Much of what you say is accurate and a possibility...it is well stated and consistent with much of what has been said over the last 5 years at every new high. But at this point the fundamentals of our economy and the worlds is stable and moving towards greater stability then ever seen before. There is nothing to suggest a significant recession is around the corner. I was more worried with the Indonesian and Asia currency problems then I am today. To Repeat: "I do not believe a crash of this magnitude is possible, unless some large event restructures everyone's sense of stability in the present economic environment. These markets have taken an enormous amount of bad weather over 5 years. Greenspan's slow tightening will not bring on a crash to 7500. That is not to say bigger events couldn't do it...!" Now, I find from my technical work that the DJIA has another chance to regain it's feet at 9,775 and the S&P cash may get theirs at 1310. Both the cash and the DOW concentrated a lot of forward projections into last week and the coming week. It is in here I've been expecting a reversal of some strength. I do not know yet if it will take us to new highs, but atleast 11,200 on the DJIA and 1450 for the S&P. Also remember I'm not John Murphy..., only an amateur who's getting better. Chip