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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Michael Burry who wrote (6789)	4/16/1999 4:39:00 PM
From: sjemmeri	Read Replies (1) \| Respond to of 78570

On rotation to value, the advance/decline continues to broaden: Exchange Advances Declines Volume Ticks NYSE 2,037 1,005 995,663,890 444 AMEX 330 227 45,409,550 75 NASDAQ 2,153 1,895 1,027,690,300 -92

To: Michael Burry who wrote (6789)	4/16/1999 4:57:00 PM
From: jeffbas	Read Replies (1) \| Respond to of 78570

I advised folks here early in the year that I thought shorting AMZN at 330 or so was a bad idea. I feel the same about your current short. The auction business news and the upgrades give the stock an excuse to blow out the shorts again, independent of the merits or lack thereof of the book business. It closed near the high today on double average volume. I predict it will make a new high shortly.

To: Michael Burry who wrote (6789)	4/16/1999 5:47:00 PM
From: James Clarke	Read Replies (2) \| Respond to of 78570

It might be interesting to go back and reread the post I did Monday or Tuesday night about how my firm is struggling to survive. That was the bottom (knock on wood) - we have outperformed the S&P by 7 1/2% in four days. My boss told me that in 30 years he has never seen anything like this happen on no news whatsoever. Even in hindsight, I can't find the immediate catalyst. I had always figured it would be interest rates. (How many times have I said "Value is its own catalyst", but I forgot that at the bottom.) I suspect we are all seeing the same thing in our own portfolios (at least those of us who didn't sell them at the bottom - DOH!) If that's what it takes to teach one not to market time when there are screaming buys out there, its a small price to pay. Even the REITs are moving. Here's to not giving it all back next week. jjc

To: Michael Burry who wrote (6789)	4/16/1999 9:54:00 PM
From: TAPDOG	Respond to of 78570

Mike, MDA has been making money and growing consistently. I don't own it and I'm hesitant because I don't quite have a feel for who buys those paintings. I think it's kind of a religious thing. The last few days have certainly been different. For the last few months I've been saying what a strange market. My internet shorts go up and my value shorts go down. All of a sudden my longs are up and my shorts are down. The guys on CNBC are now saying that they don't understand. Let's see if it continues.