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Strategies & Market Trends : SPARKY'S CORNER -- Ignore unavailable to you. Want to Upgrade?

To: Bruce A. Brotnov who wrote (3567)	8/31/1998 1:58:00 PM
From: James Wright	Read Replies (1) \| Respond to of 4142

"Nice going on the shorts - sure wish I could short in my IRA.<G>" You and me both! 80% of my investments are in my SEP-IRA, and it's frustrating not being able to put that money to work in a down market. As to where the bottom lies, I haven't a clue. I simply intend to ride it down with my short positions until it looks like it is turning back up. At this point, I'm playing it day by day, stock by stock. By the way, I agreed 100% with your prior posts on the Bible -- the fundamental difference in worldviews today is between those who hold to the sovereignty of God and the inerrancy of his Word (as originally given and then affirmed and maintained under God's inspiration) and those who don't. However, my eschatology is not as strong a pre-millennial position as you seem to have (having attended Westminster Theological Seminary, I tend toward more of an a-millennial position but I'm open to being wrong). Nonetheless, I'm on the leadership team at a strong pre-mill, pre-tribulation church (Christ Chapel Assembly of God in Woodbridge, Virginia) and have a lot of fun with friendly debates on the topic. Basically, I part company with those who believe God is going to rapture the church in order to then accomplish his ultimate goals via geo-political Israel. To me, God's ultimate redemptive plan is centered on the Church, not Israel. But then again, in areas of theology, like in the stock market, I'm sometimes wrong! It's amazing how many fellow believers I've met via private messages who are active on SI. -- Jim

To: Bruce A. Brotnov who wrote (3567)	8/31/1998 6:23:00 PM
From: James Wright	Read Replies (1) \| Respond to of 4142

Short Report -- Closing Bell: WAVO down 1 1/4 for the day to close at 5. DSET down 1 3/4 for the day to close at 8 1/4. ANLT down 2 3/4 for the day to close at 15 1/2. EGRP down 4 1/4 for the day to close at 16 5/8. QWST down 4 13/16 for the day to close at 25. Portfolio up 91% in three weeks! <vgb> Long Report: NMGC down only 5/16 and holding up strong above its current 12 1/4 support level. SIRN up 1/4 (hard to believe!) THNK down 1 7/8 -- ouch! (Hey, you don't expect me to win with every stock, do you?) Here's an interesting observation -- I've been working to help put up a new private, Christian high school in my county, and last Friday morning I met with the VP of a large regional bank to discuss financing and related issues. During our meeting, I commented on the drop in the market and the VP told me his investment department had begun that morning calling in margin accounts on a large number of investors who had invested through the bank. This convinced me that the bear market had a lot more to go before it reaches a bottom -- investors will be forced to sell to cover their margin accounts, which will feed on itself to drive the market even lower and thus force even more margin calls. CNBC finally started mentioning today that this was beginning to happen. Now that banks and brokerage firms are forcing investors to cover their margin losses, I think we will see a lot more downside to this market as margin call forces selling, which drives down prices and forces more margin calls. What a mess! -- Jim