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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: J.T. who wrote (14919)	10/29/2002 6:30:58 PM
From: James F. Hopkins	Respond to of 19219

Hi JT; Well I don't really "know" enough about NYSE accumulation , or the public shorting above them , to take the other side of any argument in that respect. I was under the impression taht the general rule was the public always got short "below" them and the specialist covered first, but we are likely talking about different things or if the same thing then in a different way. ----------------- I was critical of the shorts back in 1999 and early 2000 as they were the ones who keep getting squeezed at the top. It was shorts buying the TOP of the bubble , and I'm sure of taht much, positive in fact. And most of them covered the market started down and , but this down is not like any we ever had before there has been no BIG fast capitulation, it's for the most part been very orderly ..and I do look at short interest and it's for the most part been dropping We have actually trickled down ( but over a longer time frame that anything since 29. ) and I know of several almost perma bears who covered then been surprised to see the market fall again. ( but they don't admit it ) ------------------- But all that aside , I'll hang onto my old conviction that history is not always what it seems, and comparing the market over a long period using an index makes most people see things through rose colored glasses..lot's of things apply today that didn't even exist back then. Demographics being the biggest change and subject to cause even more problems than I thought it would. ----------------- I've always critized the bears when they try to use 1929 crash to depict this one. It won't and can't happen the same way & if it does happen it will be caused by other pressures, than those existing in 1929. ------------------------- As far as I'm concerned the jury is indeed still out, I have some longs but brother they are hedged. ------------------------- Meanwhile I'm not as concerned about the market as I am about my cash flow..and some cheap real estate that I'll be bidding on next week for pennies on the dollars of back taxes taht never got paid. --------------------------- I hear all the CNBC stuff about how home sales are still going gang busters..man what a spin they put out. Sure Sales are up, but so are listings in fact listings are Really UP a lot, so with all the extra listings there is no mystery sales are up, The real estate market has shifted gears, in most areas from a sellers market to a buyers market.. and they say there is no bubble , and no problem I'll be bidding as low as $1500 on homes that were apprised 2 yrs ago at 30K and up. Raw Land that was appraised and Tax on values of say $1000, will be going for $100 to $200, of every $1000 appraised value. Some of this I'll never re-sell, I'm getting it to leave to the kids, most of it won't be worth much for 20 yrs.. ----------------- Jim PS if the country can stand another 20yrs of the type of management we have had in the last 20, then the land I buy next week will be worth something, if not well at least they won't be out anything thanx to what I did.