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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (3934)	4/27/1998 10:45:00 PM
From: Scott Mc	Respond to of 78476

New Feature "Related Subjects" at top of thread, believe it works on bookmarks of posters. Select the thread and click, not surprising, WHX and StJoe's come up :) Scott

To: Paul Senior who wrote (3934)	4/28/1998 12:02:00 AM
From: James Clarke	Read Replies (1) \| Respond to of 78476

Heard a wonderful example of the kind of thought propping up this market on CNN's Moneyline tonight. The daily guru, reading from the buy on the dips script, said something like this: "Yeah, we expect a correction of 10% or so, so just hang on to your stocks and you should have some great buying opportunities in a couple weeks..." Hmm. So you expect a decline from here, but you wouldn't advise somebody to sell anything, even in a nontaxable retirement fund? That sounds pretty stupid. And when you see those great buying opportunties in a couple weeks...what are you gonna buy it with? I have said this before and I will say it again - if nobody is holding cash, the dips ain't gonna get bought. And the conventional wisdom tells everybody two things - 1) buy dips and 2) don't hold cash. That dog don't hunt. One of these times I'm going to be right. And yet another sign of a market top. Viagra. When every business publication has the word "erection" in it five times or more, its probably time to sell some stocks.