To: Wally who wrote (2997 ) 8/5/1998 10:52:00 AM From: Dixie7777 Read Replies (2) | Respond to of 15313
It's interesting to see how really small people look at people of achievement and great success. Ralph has the respect of thousands of Street professionals. If you stop and think for a moment there's no way for Ralph to earn a buck from his forecasts other than that paid to him by Prudential. He has no way of knowing what the market will do with his forecast. You seem, and for reasons that are obvious because of the self evident, but you seem to be a pretty petty and jealous individual. Relative to Ralph's change of direction from Monday, it's also obvious that you have a really short perspective of just where he's been for the past 42 months. You will be in good company however, as there will be many who were hurt by the drop yesterday and their willingness to sell into the fall. (We still don't know how Ralph's forecast will play out.) If the market goes back up who'll you blame then? At any rate, relative to his change of direction, if indicators have all been up for 3 1/2 years he's bullish. His statements Monday only continued a 3 1/2 year track record. On Tuesday he reported as a bear for the first time in 3 1/2 years. He didn't change his mind overnight as many would read into his statement. He changed his direction after 3 1/2 years. When does a change from bull to bear occur? Over many months? Probably not. But it will happen in a heartbeat if all the indicators warrant the change. It just takes an honest guy, especially one with a high profile, to reverse himself when this happens. I know Ralph and Ralph's a good guy, straight forward and will tell it like he sees it. Additionally, for those that might be interested, Ralph is viewed by many as the Father of TA. He teaches it at NYU. Rich