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

To: jwag who wrote (4784)	4/27/1998 2:38:00 PM
From: Thomas M. Carroll	Read Replies (1) \| Respond to of 42834

I think about four or five weeks ago, BB said anything below 8000 DJ would be a buying opportunity but he did not expect the market to drop that much in the foreseeable future. Over this weekend, he said he expected four, five or six percentage points at this time and that "it may have started already." I guess he was right again. The DJ is down over 200 points as I speak. Tom C

To: jwag who wrote (4784)	4/28/1998 3:14:00 AM
From: marc ultra	Read Replies (1) \| Respond to of 42834

I don't think Bob would want to tarnish the image of the gift horse by calling for a gift horse opportunity at these valuations and mildly deteriorating fundamentals. I would guess he still would find the market attractive for purchase below 8000 if his model doesn't deteriorate which would seem to be around a 10% correction from the highs. If I remember correctly this market is looking a lot like 2 years ago when a speculative frenzy ended in a nasty correction followed by an eventual move to new highs. There usually seems to be a pop in interest rates and the small and midcaps seem to get hurt the worse even though the most overvaluation is in the 500. A good correction here while painful can be helpful in keeping the fed on the sidelines and dampening the wild speculation as some of these speculators get margin calls and a dose of reality