To: fedhead who wrote (19702 ) 9/19/2000 8:55:42 PM From: pater tenebrarum Read Replies (1) | Respond to the truly vexing thing is it isn't even truly a bear market yet! it is in some indices and subsectors, but clearly not in others. many indices are barely off their all time highs after all. the most glaring exception is of course the COMP/NDX combo, which looks like a bear market beyond any reasonable doubt. in spite of this, a full 80% of Rydex bull fund assets remains committed to tech and biotech! the biggest buying surge by the public btw. took place during Q1 of this year, at prices that we haven't visited since - while the income oriented equity funds (the ones that buy high yielders, read utilities and REITS) have actually had outflows all year long. this is proof positive that one should fade the masses, as the strategy obviously stank. utilities took a big hit today, but only after they put in their best annual performance since 1929 (up over 40%...in '29 it was 69% from low to high...funny enough, the high was also hit in September that year).
