To: donald sew who wrote (9418 ) 3/29/1999 7:56:00 PM From: Roebear Respond to of 99985
donald, Thanks for the courage to go out on a limb and express your market interpretation beyond its normal short term indicators, in regards to your remarks: "On a more negative view, I strongly feel that the start of the bigger decline is right around the corner." Glad to know I am not the only one. Not that I am a bear, despite my handle (bear is only part of it). In fact I have been playing the market long, mostly on "safer" defensive stocks that lag the market a bit, allowing me time to bail if need be. Limits my returns, but I am up 20% in two weeks. Today I bailed on all but a little Newmont at the lows. I love Newmont in the 16's and lower, very reliable and I am a bit of a Au bug. My reasoning for going to cash: Mostly the A/D line. Perhaps it no longer applies in the "New Paradigm" but I doubt that. Instead I believe that the new class of investors, including a lot of Mutual Fund gurus, are basically mo mo oriented and will chase the returns wherever they be. This throws $$ at the current "Nifty Fifty" and to heck with the A/D line. But with window dressing nearly in for the month, the thinness of the fabric of this market will begin to show through. Furthermore, the very paradigms that have defined this market are changing. The extinction of the Cold War, the Peace Dividend, increasing openess in international trade and the expansion of natural resources it has brought, cheap energy and resources, the consequent focus of financial streams on instruments of debt and equity and away from commodities; these are all being threatened by current events. The market is shrugging off external threats while becoming more subsceptible to them. But, if I'm wrong, then, what the heck, I've got cash to invest in the latest go- go mo mo's <VBG>! Roebear