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To: Challo Jeregy who wrote (5644)	11/28/1998 11:11:00 PM
From: Thean	Read Replies (2) \| Respond to of 14427

Challo, when I said "blame it on LT", I really meant blame it on ourselves for our own choice of wanting to listen to him. He was quite rational back then and why not. Again, it goes back to the sentiment element and why did we not consider the prevailing sentiment when we made our decisions. When all the bad news were out, and the market had taken a tremendous pounding, that was the contrarian entry point. When AG didn't wait to lower rate the second time, he laid the groundwork for a 180 degree change of sentiment. After that it became a mo-mo uptrend all together and with the slowness of the change in money flow from out to in, this mo-mo was/is to be sustainable. Which brings us to the present time. We have broken into new highs in the major averages. If a pullback/consolidation wants to happen, it needs to happen pretty fast here. Otherwise, we will head from overbought to over-exuberant and when that happens LT may become right again for a steeper selloff. However, no one knows where it will eventually stall until it happens so the strategy is to not place a bet on a quick fall or a further big sharp move up but rather trade and track the stocks on a daily basis. Look at it like this - I'm glad if I pick up a few nickels here and there as long as the capital is preserved. Won't make any homerun, but sure have a good shot at wining the game at the end of the day.