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

To: Berney who wrote (76973)	5/14/2001 1:44:53 AM
From: American Spirit	Read Replies (1) \| Respond to of 99985

Go back to economics 101. Of course I know who Benjamin Graham is, you imbecile. He's my best friend's uncle who taught at Wharton and gave Buffett his philosophy. I'm close friends with the Graham family. And they don't do TA. Don't try talking down to me just because you study charts with some other geeks. I know guys on Wall Street who've made hundreds of millions in the market and never looked at a chart or Fibonacchi numbers or any other technical theory. Theories don't take into account any real-world changes, swings, news, fed cuts, etc. If it works for you though go ahead, but sounds like you've been short this whole rally so maybe time to try another method. TA certainly isn't the only way to judge value, or timing. Your Benjamin Graham quote means nothing because the value/cash is there in the stocks I buy. And they're still oversold and therefore still "voted against". Graham's statement only supports my style now so long as I'm a little patient. And your excuses, "oh if Greenspan hadn't have cut we wouldn't have gone up" is silly as well. He did. he should have, he is and he is continuing to aggressively support the market much to the displeasure of bears who want to see our markets in the dumps so they can make some trading gains. And go ahead and short IBM. I could care less if you want to lose money. IBM is the strongest tech stock there is right now along with MSFT. But it's less expensive than MSFT by about 50%. It will surpass 119 easily during the next rally phase and will continue to $150 and beyond. It may be at this price in a year after a split. If it were to dip to 100 on a violent sell-off it would pop right back, and it would be a probable double from there on a 12-18 month hold. They have nothing but bullish news, substance, dominant positions and it's solid not pie-in-the-sky like biotechs or dot-bombs. Bears didn't like the IBM news because it was real substantial good news. They'd rather dismiss it and try to find something negative to post that's usually old news or some article from the Prudent Bear. Fine, just don't expect some of us to see through that slanted BS. This economy and this market is neither good nor bad now, it's mixed and will continue to be mixed for some time. Gradually there will be a recovery. Gradually everything will come back into balance again. Get your facts straight and come off your high horse. And go back and read Benjamin Graham from a bullish perspective, not just a negative one. Believe me, the value is there now. Bears just don't want to see it.