Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : APMP (formerly APM) -- Ignore unavailable to you. Want to Upgrade?

To: Christopher Loe who wrote (10013)	2/11/1998 8:08:00 AM
From: marc chatman	Read Replies (1) \| Respond to of 13456

Christopher, all the points you raise are good ones, but the market is being driven by liquidity IMO. Valuations don't even come into play. Until the funds have reason to stop throwing their excess cash at the market, or until they start running low on cash, momentum strongly favors the upside. I wouldn't be surprised to see AMAT take off today on the notion that Asian problems were already built into expectations. I'm also not so sure this has been a stock pickers market, at least not recently. Almost everything has been going higher, and many major indexes are at or near new highs. The best case I can make for a correction or even a respite is that the market is again acting like this is one big party. Check out CNBC or briefing.com (their track record has sucked for as long as I have read it). The threads on SI are getting euphoric as well. For better or worse, I also have excess cash. And at this point, I would rather hold my cash than risk getting into the market at the top (so far, a big mistake). I have been gradually building a position in oil service stocks, particularly equipment mfgrs, deep water drillers and some service cos. Looks like they made a technical bottom a few weeks ago, and they are lagging the market now due in part to the depressed price of oil (which shouldn't hurt earnings but may constrain stock prices). From your post, it looks like you are looking to buy once the market hits 8500. Is this because you expect a further break out from that point?