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To: JRI who wrote (88268)	12/24/2003 10:03:26 AM
From: ajtj99	Respond to of 209892

Actually, I think Skin posted that here last night, as that's where I originally saw it. <G>

To: JRI who wrote (88268)	12/24/2003 11:15:57 AM
From: Perspective	Respond to of 209892

My yearend thoughts here: Just look at price. We haven't turned. If you're bold enough, be long with a tight stop. I can't invest irrationally. Period. I just don't have the constitution for it. I know myself too well. There's a good reason - I'm not that good of a trader, nor do I want to be. I want to invest with two things in mind 1) with the prevailing trend and 2) based on a rational investment thesis. Long is the trend. Short is the rational thesis. Therefore I am trying to remain flat, despite the siren calls to the short side from my rational mind. BC

To: JRI who wrote (88268)	12/24/2003 11:23:01 AM
From: Perspective	Read Replies (2) \| Respond to of 209892

Roach year-end, sorry if it was posted before. It's a great read. Excellent thesis, even if it has a (wisely) hedged forecast. morganstanley.com BC