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Pastimes : From A to Zeev" -- SI Sacks Zeev -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (504)	10/15/1998 4:37:00 PM
From: space cadet	Read Replies (1) \| Respond to of 708

Zeev I can see your turnips aren't too great at calling turning points. That's ok it's not your profession. I am deeply disappointed in Favors however who should have seen this tidal wave coming. I pretty much did see it coming, as I've been telling you, but I failed to do the right thing, mainly because I stupidly had a stop that got hit. Incredibly expensive stop. We are definitely overbought now, as this past week is one of the market's greatest rallies ever, I believe. Now 8000 is support and we might test it but it doesn't look like we will penetrate it anymore. In fact, we could end up testing 9300 before the year is out. I think only some new unanticipated debacle can keep the market from rallying. The big (and small) boys are ploughing their money back into the market so we may set a new record for most consecutive days in a row up. Do we just rally every day in Oct? By Nov the overbought indicators will be out of sight if that happens and perhaps we'll see a mild correction. But it looks like the main correction of the second half of the 90's is now history and we go higher from here. I'm very skeptical now of long term predictions, since both you and I were so badly off thinking Oct would be weak. I think when so many people anticipate an event it becomes self destroying. Now I'm really at a loss because I hesitate to get into the market after such a great rally, but I wouldn't want to short it either. What are you doing these days? I noticed the third tier stocks like cymi et al have just begun to rally. Perhaps it isn't too late to catch those before they sprint away...