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Strategies & Market Trends : The Millennium Crash -- Ignore unavailable to you. Want to Upgrade?

To: Arik T.G. who wrote (4241)	6/2/1999 1:09:00 PM
From: clochard	Respond to of 5676

Arik, the consumer has bought into the buy-and-hold, buy-the-dip story hook, line, and sinker. I spent memorial day afternoon with a few friends and they all defended it with conviction. They even admitted that there might be a correction of 10-20% but it would rebound quickly, i.e. a buying opportunity for the taking. What the amateur investor doesn't realize is that the market has coralled all the available money and can at best hold this level, leaving lower earnings and higher interest rates aside. Limited upside is the most logical reason to be out of the market right now because you can verify the reasons for it using past data. Any stock rising today is just short covering and manipulation. Steve