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To: robnhood who wrote (111536)	7/6/2001 10:18:34 PM
From: pbull	Read Replies (1) \| Respond to of 436258

FWIW, Dow is down 7 weeks in a row for the first time in 21 years, Rukeyser said on his show tonight. His interpretation: Big is no longer always beautiful. Well, duh. Times have changed. PB

To: robnhood who wrote (111536)	7/6/2001 11:01:01 PM
From: James F. Hopkins	Read Replies (2) \| Respond to of 436258

I recently checked out a few bull/bear funds..every rally we had from April has not been the result of BUYERS..each one has been the result of the poor timing shorts have. So no we are not in a bull market, but the shorts are still timing the market wrong and trying to play catch up. I pointed out last week that the low VIX was more due to the fact that so many people were short, & if your short you don't buy puts. Today they shorted more & every thing they could at any price & to anyone who would buy, ( they can't short when there are no buyers ) and there was a buyers strike. ( except for a few nuts like me ) The nadaq trin was over 5 yesterday 5.8 today, but that's not what was reported. Advances 1148 (28%) Declines 2515 (62%) Up Vol* 107 (7%) Down Vol* 1311 (90%) --------------------------------------- ( 28/62) / (7/90)= 5.806... I've never seen 2 days over 5 that didn't bounce within a day or two. If it don't then I'm getting my money out of money markets and all..as they are going to fail & everything else is too I'll put it this way, if every thing melts down to far, not even the shorts wind up with anything.. Except an IOU from a defunk money market fund. A crash takes out the insurance companies too, & the FDIC pays off with dollars that are worth next to nothing, and the only way out is WW III Jim

To: robnhood who wrote (111536)	7/8/2001 2:00:32 AM
From: Dr. Jeff	Read Replies (1) \| Respond to of 436258

<<< We are no longer in a Bull market... To trade now in the same manner as before could be exceedingly dangerous. IMHO. >>> Yes indeed! What you said reminded me of some VERY good points Fleck made in his Dec. 14, 2000 Rap (excerpt below). The NDX was 2600, the Dung was 2800, The Dow was 10800 and the SPX was 1350. CSCO was still over 50, NT was 40, GLW 70, JDSU 61, LU 19, and EMC was 75, but POS was actually lower (34), just to name a few favorites...... siliconinvestor.com More and more as I look at the tape action these days, especially surrounding the election and its response to news, it strikes me as completely and totally what I would call "retail." This is not to disparage anyone by taking a poke at "amateurs," but when I started out in the business 20 years ago, the market had a way of figuring out complex events such as the election. It would sneak and creep -- and almost always be right. In the last few weeks, the market has run up into every election news event, whether it had any basis in merit or not, only to end up getting smacked. Likewise, you see the same thing as companies report bad news. There is no dot connecting. People wait until a company actually dives off a building, or many times until it hits the pavement, before the stock gets sold. The mentality and the environment that allowed people to buy a stock and make money simply because it split its shares is the type of nonsence I'm talking about. That modus operandi won't work anymore. The difficult environment that I foresee in the next couple of years will change that completely. The people who will be left standing to ply their trade in the investment business will be those who are able to conduct research, interpret, analyze and see things before others. Such skills have been an actual impediment to doing well in the last couple of years, and in many cases were a recipe for disaster, since it was so easy for folks who thought they knew something about how certain businesses would work or evolve to get left behind or, in some cases, trampled. The moral of the story, ladies and gentlemen, is that if you have learned to trade and deal with the market action of the last couple of years successfully, you will have to change your skill set prospectively if you want to remain successful.