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To: MulhollandDrive who wrote (265051)	10/29/2003 11:07:55 AM
From: GraceZ	Read Replies (1) \| Respond to of 436258

Well I exaggerate a little because I hold large amounts of cash even when I'm very bullish. People who are perma bears couldn't even buy last March or October except for a short term trade any more than the ultra bullish could sell back in April 2000. I always follow companies even when I can't find much to buy because valuations make everything poised for a fall. Lot's of demand for stocks at lower prices but there isn't much demand for stock at higher prices except in heavily shorted issues. But since the market is in the mode where it wants to take individual issues down hard, you can be presented with some nice opportunities on things you didn't want at ridiculous prices. Even now there are companies whose prospects are terrific, it's the price that is wrong. But things can change very fast and it's important to remain flexible in this environment just as it was important to be flexible back in April 2000. What killed people was that it took them almost a year to realize that the market was going to make a big correction so they kept going back in long (me too). I'm sidelined because I'm not sure if it's time to get short or time to get long. I do know that there are very few things to buy but it's treacherous being short until the right side structure is fully formed. Here's a pretty good picture of why being short isn't there quite yet unless you are trading earnings day short (not my style). My bear fund watch (although Prudent Bear looks good here): finance.yahoo.com