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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: jimsioi who wrote (19601)	9/27/2002 9:46:41 PM
From: Cogito Ergo Sum	Respond to of 36161

OT: as usual this is a great time to buy stocks. LOL... He's not alone. I think that's reflected in money managers everywhere, hurting and confused. The bull did to the ranks of 'financial planners' what a real estate boom does to the ranks of real estate agents. Anyway I've got 20K sitting in money market funds in one of my kids' in-trust accounts (last thing with a financial planner). I've received 2 letters and a few phone calls from the planner in the last few months (one letter last week :o) with the usual it's a good time to start buying, dollar cost averaging, stocks are cheap. etc..... I don't think most of these guys have a clue... Last time I met him he was aghast that I liked to 'actively manage my money' and didn't want to trust it to a professional.

To: jimsioi who wrote (19601)	9/27/2002 11:13:27 PM
From: Little Joe	Read Replies (2) \| Respond to of 36161

Jim: Looked at the chart and unless I am just reading it wrong I can't see where they are so prescient. I agree that what you say makes sense, but the chart doesn't appear to correlate. Years ago I subscribed to a newsletter called bullish consensus which analyzed these numbers in great detail and if he was right he took credit for having called it and if the commercials called it wrong he had a name for the signal that gave, which of course was in the opposite direction and he declared himself right. The way I saw it in his view no matter which way the market went he was right. I have looked at these numbers off and on and I am not sure anyone can show a high correlation between what the commercials do and the price, with the possible exception of the S&P, which I have never studied but have heard the comms are reliabe at the extremes at least. I am by the way not a short term or necessarily medium term bull on gold or silver. If you review my posts I think the jury is out on the short to medium term and for that matter on the long term, but, if I were forced to take a position on the long term I would be bullish. I think the charts are showing a massive bottom being formed. As long as the current consolidation formations are not breached to the downside, the long term has to be up. In summary, I guess I am saying that I don't give a lot of weight to the committments data. I could be wrong and hope to be proven wrong. There is nothing I would want more is another reliable indicator in my quiver of market tools. Little joe