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Strategies & Market Trends : A.I.M Users Group Bulletin Board -- Ignore unavailable to you. Want to Upgrade?

To: Scott Moore who wrote (5447)	8/27/1998 4:07:00 PM
From: OldAIMGuy	Read Replies (1) \| Respond to of 18928

Hi Scott, I entered orders for substantial buys of more shares of GSF in various accounts today. It dipped under $8 for the first time in a very long time. Yield is now showing over 11%. As with all risk/reward equations, the higher the reward the higher the risk. No exception here. However, their exposure in Russia is limited. What's really funny to me is that during the "cold war" Russia had a really hard time influencing our economy this much!! Best regards, Tom

To: Scott Moore who wrote (5447)	8/27/1998 5:09:00 PM
From: JZGalt	Read Replies (1) \| Respond to of 18928

Scott, Isn't is amazing how a completely different set of worldwide circumstances can lead to the same outcomes. I just hope the past is indeed prologue in this case. Range trading I can take, meltdown is a bit more that I care for. ---- Dave

To: Scott Moore who wrote (5447)	8/27/1998 5:34:00 PM
From: OldAIMGuy	Read Replies (4) \| Respond to of 18928

Hi Scott, Another long term barometer I've used successfully over the years is the price of the brokerage stocks. I don't track as many as I used to but here's the rundown: AG Edwards (AGE), Recent Hi - $48+; Today - $30+, down 37% Legg Mason (LM), Recent Hi - $64+; Today - $$54, down 16% Raymond James (RJF), Recent Hi - $36.50; Today $20+, down 45% and how about financial institutions? Franklin Funds (BEN). Recent Hi - $57+; Today - $36+, down 37%. It's been quite some time since we've had a real sell-off in this area. In the past I've had spare cash available for just this sort of thing, but this time I've not reserved any. I've had a change of heart in the basics of the brokerage industry and decided that my last round was to be my last. However, market bottoms have regularly occurred when the brokerages have given up 35% to 50% of their previous high values. Maybe we're closer to a bottom than we think. After all, Brokerages make money whether the stocks are being bought or sold. so why the panic??? I've never figured it out, but it's a pattern that seems to want to repeat itself with severe market breaks. Best regards, Tom