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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (46702)	4/16/2000 4:17:00 PM
From: Michael Watkins	Respond to of 99985

Zeev, I tend to agree with you. I think an 87 style event is more like it - which in the case of the COMPX meant a long period of consolidation in a range staring in 1986 and completing in mid 1991. I used to enjoy stock picking but grew disinterested as the analyst community starting inventing new ways of putting value on companies - back in the beginning of dot.com mania that was a real shake up for me to hear that kind of talk, and I decided to make every investment decision with chart in hand. I think as you do - the consolidation period will shake things and people out, valuations will be once again measured on tangible results and real prospects, and stock picking will be important once again. Probably for that to all come to pass there will have to be another wild ride up and down to drive the lesson home... Enough musing for me today. Like OJ I'm looking forward to Monday...