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Strategies & Market Trends : The Rational Analyst -- Ignore unavailable to you. Want to Upgrade?

To: The Perfect Hedge who wrote (132)	1/2/1998 4:46:00 PM
From: ftth	Respond to of 1720

[chat] Yes I did (if you mean the one you sent 12/23). If you sent one after that, it must have got lost (which seems to happen with about 10% of the emails I send, especially if a large file is attached). I'm still not in "long" mode, and I suspect we'll see a fair amount of volatility over the next couple weeks leading into earnings season. Most of the bad news earnings-wise should be out by mid Feb. I don't think the market can truly consolidate until all the news is out on the table. I don't buy into "already priced in" arguments--there will ALWAYS be a good percent of market participants that wait for the facts before making decisions. So if earnings are, on balance, below expectations, there's still more downside potential. The probability of this is high enough (in my mind) that I won't be picking up any "after Christmas clearance sale" stocks anytime soon. dh