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

To: Alan Whirlwind who wrote (6247)	7/29/1998 12:17:00 PM
From: Rillinois	Read Replies (3) \| Respond to of 42834

Alan, the 8500 figure was the figure Bob used for the previous pullback. The Dow reached 8570 June 16...I guess those waiting for a buying opportunity were left holding the bag. Oh well, so are the risks associated with market timing. The new buying opportunity figure is now 8650 as per the July issue. In the event you, or anybody else for that matter, hasn't figured it out yet, Bob's buying opportunities are simply taken by calculating 7%-8% off the highs. Remember Bob maintains that we are in a bull market and a correction of less than 10% can take place at anytime. Of course, there was that one pullback in Oct. '97 where the Dow and the S & P corrected on a closing basis approx. 12.5% and 11%, respectively (on an intraday basis the correction was 14.5% and 13%, respectively). And as we heard a few weeks ago when ABC replayed an old show, Bob squirmed out of admitting he missed an intermediate term correction by focusing in on the fact that the NYSE index only corrected 9.9% on a closing basis. (Bob's proprietary timing model is supposed to be able to detect intermediate term corrections defined as pullbacks between 10% and 20%. Intermediate term corrections often lead to bear markets.) Ooops! On a side note, did anybody catch the call last week where Bob went out on a limb and told a caller that he predicts the next time a bear market shows up the market averages will decline between 20% and 40%? LOL. The caller was shocked. He obviously, didn't know the definition of a bear market. Bob's prediction would be the equivalent of predicting the next time the DOW doubles it will be at 18,000. LOL. Bob's show is not only informative, it's entertainment at it's best. Best Regards. Rillinois