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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host -- Ignore unavailable to you. Want to Upgrade?

To: Tim Bagwell who wrote (2373)	12/12/1997 12:03:00 AM
From: sea_biscuit	Read Replies (1) \| Respond to of 42834

I don't think it has anything to do with the sizes of the markets. What must be causing these reactions is that US stocks are priced for a better-than-perfect outcome for time horizons that are well into the next millenium. A very large portion of the investments today are from people who are new to the market (the kind of folks who think that a three-month sideways market is a "bear market" :-) ) And new money is always jittery money. It will be interesting to see what investors do when they realize that it is possible for earnings to stay flat, or (gasp!) even go down. Dipy.