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Strategies & Market Trends : Bear! -- Ignore unavailable to you. Want to Upgrade?

To: Lucretius who wrote (50)	5/3/1998 5:49:00 PM
From: Les H	Read Replies (1) \| Respond to of 281

<<< Show me one phase in history where a bear market happened in this kind of circumstances, ie, where truly revolutionary technogical changes are taking place. >>> The 1970's when the economy was transitioning to service economy. The underperformance of the Dow and S&P in the 1970's also can be traced to the fact that many of the new economy companies were still in the Nasdaq that decade. And a number of faltering industrial companies (Chrysler, Intl Harvester, etc) were in the Dow and S&P. <<<1929..... the industrial revolution was in full swing...>>> As I recall from programs, the economy had already been in a recession for two quarters when the market crashed. The market had topped several months prior (the old Dow theory: Dow and Transports need to reconfirm highs within two months.) to the crash.

To: Lucretius who wrote (50)	5/4/1998 11:31:00 AM
From: Worswick	Respond to of 281

Dear Lucretius Taurus: Don't you think that using the foreign cash inflows and the mutual fund inflows into this market that we will be going to a more toppy makret, with larger "breaks" followed.... by higher highs with people rushing into fewer and fewer stocks? Then? ....when the market finally runs out of liquidity...that is when the tired old horse lies down for a rest. The trouble is it might not just be a rest. I just don't see a stroke or a heart attack like most people do. Bascially, what is happening in Asia is analogus to what is happening here. We are having a credit implosion that parallels a stock market explosion. Eventually, they will come together. Hey, ENMD was up over 400% today. Put that down in the excess column. My best to you,