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Pastimes : Richard Ney and the Wall Street Gang -- Ignore unavailable to you. Want to Upgrade?

To: ccryder who wrote (399)	9/1/1998 1:07:00 AM
From: REvaluer@AOL.com	Respond to of 492

I think that this was the correction that we have spoken about for a while. The media is saying that this is just the first leg of a bear market. While people are waiting for the "other shoe" to drop, I think stocks will be moved up. The media is used to divert us. Just like Goodman Sachs and Warburg Dillion Read told investors to buy bank stocks last week before the greatest drop in these stocks. I will be buying stocks tomorrow. Based on long term, charts (2 to 3 years) many stocks are at wholesale levels. Based on Ney's ideas, I will be able to minimize my risk by buying "blue chips" that hitting their 52 week lows. My definition of a blue chip stock is a well capitalized stock that is favored by institutions, in a growth field (providing an excuse for a large increase in the price of the stock)and is well managed. If you look at the stock tables you will see hard hit "blue chips' that are selling at 52 week lows. Remember, the October 97 drop and the January 98 drop things were made to appear grim. Instead, these drops were opportunities to buy select stocks at wholesale levels. I am a long term investor so I do not mind holding a stock for 6 to 18 months. It was interesting to hear either CNBC or Bloomberg News make fun of Goldman Sachs' planned offering at the end of October. Basically, the cable stations were saying that the offering was very badly timed. Oh really. The planned offering is not for 60 days. A lot can happen in 60 days. Wasn't the Dow at the 9200 level roughly 60 days ago? (the middle of July). I think they are premature in their assessment that the offering was badly timed. Best of Luck to All. REvaluer