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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Chris who wrote (4051)	12/6/1997 8:04:00 PM
From: Chris	Respond to of 42787

updated HIV chart: geocities.com

To: Chris who wrote (4051)	12/6/1997 8:46:00 PM
From: Robert Graham	Read Replies (1) \| Respond to of 42787

I respect John Murphy's knowledge and experience. But, I do not look at him as much as the "expert" as I used to. But I still find him worth listening to. He does make good obsevations. And then I think about it and make my own decisions. I remember him saying new highs would be taken out right before our last correction. I wrote to him of what I was seeing as a contrary possibility. And then to cover himself after the fact, he made a big effort in pointing to snippets from his past newsletters proving that if everyone was listening to him, they would of seen this last correction coming. Oh boy! And this guy does have an ego. No doubt about this. But it is not as bad as Louis Ruckeyser's ego. The ego of Louis would fill a high school gymnasium and still would still need room. So this is where I learned a lesson in placing too much significance in what an "expert" says. Instead of starting to place in doubt what I was thinking, I need to listen with an open mind, but stick with what I am seeing as valid even though there is some well-respect "expert" that I even respect who is saying something different. John is good, but I think I was beginning to place him on that pedestal. John does make non-trivial mistakes. And he rarely owns up to his mistakes. He has been getting complaints about this from his subscribers. I still think that the yearly subsciption to John Murphy's newsletter is wothwhile. The only other alternative that I can think of is one of the technical newsletters by Martin Pring. It looks like some of the techs are showing life. And I too have seen strength in the drug industry. The disparity between the NASDAQ and the DOW appears to have narrowed to some degree. The only sectors that have been doing consistenly good are the financials, utilities, and the retailers. The financials and utilities IMO have been benifitting from the bond market and the recent lessening of concerns about inflation and the Fed turning the screws to the economy. This McClellan newsletter sounds interesting. Does he have back issues that you can access in order to evaluate his past performance? I have a complete year's worth of newsletters by John Murphy to look through which I find very helpful. Like McClellan, I also see the possibility that this rally may be short lived. I think in part the inflow of forein money has been responsible for the recent rise in the Dow. But there has been evidence that some money that has been previously moved into bonds is now being moved back into stocks. This is the explaination that is being used for the stock market to be showing strength at the same time the bond market is showing weakness. Also, market sentiment has definitely been improving. Next week IMO will be very revealing about the rest of this month and even January to help determine if this rally will sustain through the New Year. Please, Greenspan, stay home! Spend some more time with your family or go on a long vacation, will you? ;) Bob Graham