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To: Boplicity who wrote (13215)4/27/2001 9:21:28 PM
From: pbull  Read Replies (1) | Respond to of 13572
 
We posted quite a bit about psychology and fundamentals, and right now this market is running on this turn in psychology in anticipation that fundamentals will improve somewhere down the line.
When you think about it, Jon Joseph really called it about right. If it simply can't get worse (companies have no orders to speak of), then it has to get better.
The volatility indicators show fear is abating, so this rally will be choppy, but for now, at least, it still has legs.
I remember an interview Barron's did with John Neff several years ago. He was asked how he survived the '73-'74 bear, and he said something like, we identified those companies that were still growing their earnings and gaining market share, and when the market finally turned, we did real well with them. Something like that.
Makes me wonder whether ol' John picked up a little DIGL a while back.
With today's rally on the close, next week looks like a repeat of this week. Profit-taking followed by institutions trying to put money to work.
The other interesting thing here is the indexes. Naz comp actually was down about 4 percent for the week, but you'd never know it from looking at the list on this thread.
Nice pickin', there, Be-bop. Here's a high-five.

PB