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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk -- Ignore unavailable to you. Want to Upgrade?

To: DD™ who wrote (20907)	10/18/2005 1:39:05 AM
From: DD™	Respond to of 207458

Groowwwlllll... Excerpts... "If we are correct that real estate in general and housing specifically have peaked, we wouldn’t be surprised if the stock market dropped by 40-50% over the next year to 18 months. This would take the S&P 500 down to the 600-700 level, and even if the earnings of $70 per share actually do hold up (which we doubt -see comment of Sept 29th) the market would drop to the normal bear market trough level of 10 times earnings or less." comstockfunds.com "At present, we have very low risk premiums, increasing risk aversion, and rising interest rates. This is a really bad combination. That's not to forecast a crash (though current conditions match only the 4% of market history that contains most significant crashes on record) or even the necessity of a market decline here. But very emphatically, this is not an environment in which we are willing to take a significant exposure to market risk." hussmanfunds.com DD