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To: Terry Whitman who wrote (2209)7/5/2000 11:45:21 PM
From: Joan Osland Graffius  Read Replies (1) | Respond to of 436258
 
Terry, Re: Bears are winning.

For some time now I have been looking at the long term charts of some companies back to the last recession and it looks to me like the prices during that period is where we will get to sometime in the future. It is looking like the CRB is starting to forecast a recession. Chile is looking like it is also forecasting a recession, so goes copper so goes Chile. I suspect in the future we will be able to pick up PD around 20, DBRSY around 13, IMPAY around 13, etc.

I also think it will take a while to get stocks down to reasonable prices since bears will start to think things look cheap. After the bears have piled in then we should over shoot on the down side.

BWDIK

Joan