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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Steve168 who wrote (19217)	5/17/2004 7:00:10 PM
From: MCsweet	Read Replies (2) \| Respond to of 78483

Steve168, Your crystal ball seems to be working alright with the market going lower. I think BAMM, MEOH, and RSC look interesting with cheap valuations and stock buybacks in place. However, I am in no rush to buy, having about a 25% net cash position right now. The potential for rate increases is hurting speculative debt securities, which have a positive correlation with speculative (read smallcap/microcap) equity securities. Summer can also be weaker for speculative securities, particularly tech. That being said, I don't have the intestinal fortitude to be net short the market. This is probably good because of my lack of talent predicting market directions. MC