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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: HighTech who wrote (33188)	11/6/1998 2:06:00 PM
From: yard_man	Respond to of 94695

FWIW. I'm no guru and don't pretend to be. But I don't think the idea of fundamental measures of value is dead, kaput, never again to be useful. If one is long this market? If from several years ago the prescription is simple -- reduce exposure to stocks, they are no longer cheap by any stretch. If from the lows in October -- the prescription is the same. By how much? All depends on you tolerance for risk. I've missed some of the bull run -- doesn't mean I'm going to hurry up and get 95% or even 50% invested now. Good luck, but I don't see how you can be both -- averaging up and -- pulling money out. If you mean you are selling one issue and rotating into another that is cheaper on some basis, OK. It may be more important in the intermediate to long run just what your mix of longs/cash/etc are. Some trading is fine, but betting heavily on more insanity bcause you missed some earlier -- is ... well ...

To: HighTech who wrote (33188)	11/6/1998 2:28:00 PM
From: RealMuLan	Respond to of 94695

<<The question -if one is long this market- is at this point, do I wait for a correction or do I jump in and ride the wave? (Or at least put my toe in the water) >> It is the institutional buying/selling which move the market. And as everybody knows, over 80% of mutual funds perform worse than the Index. So what does that tells you? Simple. they buy high and sell low. Thus, even if there are still heavy in-flow of cash into the stock market right now, I would say they are late for the game. Most of them will end up poorer than just sitting on sideline.