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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: IQBAL LATIF who wrote (13964)	11/11/1997 8:44:00 AM
From: Arik T.G.	Read Replies (1) \| Respond to of 50167

As we continue exchanging ideas, I find more similarity in our reasoning and thoughts then I deemed possible. The big difference is in the base assumptions we make. My "market ideology" is that the stock market is more overpriced then in '29, and that nothing new ever occures in the markets. Therefore I'm extremely bearish the moment it looks like the market has ceased to advance. Your "market ideology" is that given the great perfomance of US economy and companies, and the role of US in the world, prices are in general more then justyfied, and therefore one should look at the long side and avoid the short side of the market. The future will tell which of us is correct in the underlying assumptions we make, but at present our view of the market is quite the same: We would both be bearish if the market drops below a certain point- You say 910, I say 900. We would both be bullish if the market advances beyond a certain point- You say 942 and 950, I say 940 and 950. We differ in the chances we give any of these events to happen, but will probably act in the same direction once any of them actually happens. An up day today would kill most of my short term bearishness. ATG