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Pastimes : All Clowns Must Be Destroyed -- Ignore unavailable to you. Want to Upgrade?

To: UnBelievable who wrote (38955)	6/10/2000 6:02:00 PM
From: Eashoa' M'sheekha	Respond to of 42523

There Is No Bubble According To Business Week. businessweek.com I think this is where many " Old School " economists were blinded to the vision the " New Age " investors embraced. It took the break-up of the Tech Industry leader and a Declaration by Princess Abby ( connected no doubt ) to short circuit the Tech enthusiasm,although it cannot be denied,many visionary companies were actually nightmares yet to come anyway. As we can see,it doesn't take much to re-ignite that enthusiasm once these monkeys are off their backs. I will call a BEAR MARKET in the NAZ only after at least SIX MONTHS of continual decline.Two hundred Points up on the NAZ will wipe out the losses on the index for the year. The Small and Mid-cap companies have begun to rebound, but many are still off 75% from their peaks. For some reason,those who want everyone to buy Toilet Paper and Light Bulb Stocks just don't get it,so they try to destroy that which they don't understand or agree with. However,Gold may start to look interesting in July - August,but like always,it will be short lived and likely subjected to more abuse if it dares peak it's head out of the coffin. Technical indicators show - UP! Sentiment indicators show - UP! Concensus indicators show - UP! Fund flow indicators show - UP! All systems go for the spring/summer mini-rally. Maybe <g>

To: UnBelievable who wrote (38955)	6/10/2000 8:15:00 PM
From: robnhood	Read Replies (1) \| Respond to of 42523

Allthough I agree with Richard Russell to some extent, he has been bearish forever.. I cannot recall a time when he was Bullish for more than a short period... Much like myself. <g> I do remember when I first read his bearish letters many years ago.. I was so swayed by them, and lost a lot of money, that I basically gave up on reading him. It's like reading prudent bear commentaries now, particularly Noland's theories. All I know is that my June OEX puts are dust..... No one knows what The Shadow Knows...

To: UnBelievable who wrote (38955)	6/10/2000 8:19:00 PM
From: patron_anejo_por_favor	Read Replies (3) \| Respond to of 42523

Unbelievable-really fine article. Russell states the bear case eloquently and convincingly. FWIW, I think he's right. We will get a long grinding bear that started in March '00 (or last year, if you look at the Dow), and we are still in the very, very early stages. In the 1929 analogy, we are probably in December, 1929 or January 1930. Frankly, I think anything the Fed does now is immaterial, as they are in a box and tightening will 1) hold up the dollar but 2)tank the market and cause a (more rapid) onset of recession. Conversely, remaining too "loose" will cause the dollar to tank, gold to skyrocket and inflation to go nuts. Inevitably they will tighten, the only question is what will happen first. Thanks again, great article.