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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: Bonnie Bear who wrote (10592)	12/9/1997 2:06:00 PM
From: Tommaso	Read Replies (1) \| Respond to of 18056

I was curious about how holders of Oracle were reacting to its big drop today and came across the following: exchange2000.com If this is typical, the unwinding of this bull market will take a very long time. Japan has already shown that a bear market can go on for almost a decade. The Dow can drop 2500 points and there will still be people with large profit positions, at least in particular stocks. The y won't be quick to sell (at least so I think). I have a friend who inherited a lot of stock from his father about eight years ago and is now a multimillionaire, and he wouldn't even begin to feel pinched until his portfolio was down more than 50%. He also has a good pension. It may be that what takes the market down, in a set of jagged corrections, is the reverse of the "buy-the-dips." That is, towards the end of each year there will be people who bought the last dip and then find themselves with tax losses at the bottom of a deeper dip. Tax loss selling is a terrific market mover, when coupled with the perception that one may be able to book the loss and then get back in even cheaper. But that obviously can't get under way until almost a year from now. Wish I really could be like a bear and hibernate, then vernalate and estivate like some other life form, and wake up with the Dow at 4500.