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Strategies & Market Trends : Russian Crisis - Is it a buying opportunity? -- Ignore unavailable to you. Want to Upgrade?

To: Ray Tarke who wrote (35)	8/30/1998 6:56:00 PM
From: Bill Dalglish	Read Replies (2) \| Respond to of 175

This is a helpful thread, Jeff. Thank you! My sentiments lie with a short bear market - now through October - with the Dow hitting 7300 or so (about 20-22% down from the high, if I've figured accurately). Overall, the bear will give us the new start we need for another trip up. It's a lot more complex now - with grave international problems in the Asian markets spreading to Latin America (which will affect our profits even more than Asia, I understand). The internationalization of the economy means that all bets are off about the way the Dow acts. We're in all new territory here. By the way, am I the only one who was dissatisfied with Louis Rukeyser's Wall Street Week analysis on PBS Friday? He's been perceptive in the past, but he seems to be so convinced we can't have a bear market here that his commentary said something like - "wall street is overreacting to the Russian scare - their market means nothing to us -" Well, there's a lot more to international financials than just the current Russian scare. Louis did us a disfavor by oversimplifying the situation, INHO. Bill in Tennessee

To: Ray Tarke who wrote (35)	8/30/1998 7:20:00 PM
From: Jeffrey L. Henken	Read Replies (1) \| Respond to of 175

I don't think it's off topic at all since the thread is open to discussion of ideas about where best to be invested in the event the stock market does begin to recover soon. AMZN is just one of many over valued stock in this group as far as I am concerned. Looking back over the years many groups of stocks have fallen into the category of we can easily describe as Wall Street Darlings. The biotechs and Y2K stocks are two perfectly good examples of such fad investing based on the same kind of reasoning that has allowed stocks like YHOO and AMZN to run so far beyond any reasonable valuation. The reasoning is that the stocks in said group will supposedly end up showing such a tremendous growth in earnings that there is no better place to be invested. The reality is of course that very few of these companies will ultimately be tremendously successful at earning anything at all. Still it is hard to overlook a group when it garners this much excitement. The market sell off has become bad enough now that even stocks like AMZN are losing there luster. Until recently these stocks were a safe haven for those who follow stocks based on technical analysis alone. Take a look at the following recommendation from Market Edge's Second Opinion on AMZN who is still long on the stock: RECOMMENDATION STOCK SHOWS STRONGLY DETERIORATING CONDITIONS SCORE = -3 IF YOU ARE LONG; CLOSE POSITION OR MONITOR STOCK CLOSELY STOCK IS NOT A SHORT SALE CANDIDATE Regards, Jeff