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Guy,
I certainly agree that we are due for a big correction based on any
historical valuation of the market, but as the analyst's say, "Maybe it's
different this time". Actually I don't believe that for a minute, but as
long as we continue to get lots of money chasing the stocks the bull will
continue. While that happens, the bull trend is your friend.
In fact, there may have actually been a partial sea change with most of
the pension (IRA, 401K, 403B, etc.) money now chasing stocks instead of
fixed income securities.
JimG
-----Original Message-----
From: Guy Tann <grt@xxxxxxxxxxxx>
To: metastock@xxxxxxxxxxxxx <metastock@xxxxxxxxxxxxx>
Date: Tuesday, April 27, 1999 7:26 PM
Subject: RE: Would you believe it?
>JimG
>
>We had this first target a while ago, but I didn't post it because the
>market keeps blasting through our targets. I hate to say it, but the 10750
>is just our first step in the current move. If we can blow through here
>convincingly, the next point we're looking for is that 11230. This is hard
>for me, the ultimate bear, to post. <VBG> I keep looking at all the
reasons
>why we should drop and the day never comes. <G>
>
>Watched John Bollinger today on NBC's financial channel and he was showing
>with some graphs, earnings going down 1998 as compared to 1997, and 1999
>dropping from the lower 1998. He was saying that if this keeps up, we
could
>conceivably have a correction later in the year. I guess I'm still a guy
>who believes in fundamentals and assume that the market will correct, one
of
>these days. Until then, just keep going along for the ride.
>
>Regards
>
>Guy
>
>
>-----Original Message-----
>From: owner-metastock@xxxxxxxxxxxxx
>[mailto:owner-metastock@xxxxxxxxxxxxx]On Behalf Of Jim Greening
>Sent: Tuesday, April 27, 1999 5:24 PM
>To: metastock@xxxxxxxxxxxxx
>Subject: Re: Would you believe it?
>
>
>Guy,
> There are sure a lot of high targets out there. I just heard an
>analyst talking about his 11740 target. I don't like it when everyone
>starts talking about high targets <G>.
>
>JimG
>-----Original Message-----
>From: Guy Tann <grt@xxxxxxxxxxxx>
>To: metastock@xxxxxxxxxxxxx <metastock@xxxxxxxxxxxxx>
>Date: Monday, April 26, 1999 11:28 PM
>Subject: RE: Would you believe it?
>
>
>>JimG
>>
>>Our intermediate term uptrend seems to still be in effect. I think we
have
>>a couple of things to watch for.
>>
>>
>>The following are our targets, assuming that our estimating is anywhere
>near
>>accurate:
>>
>> 1st target- 10750 (already achieved)*
>> 2nd-target- 11230
>> 3rd-target- 11950
>>
>>2- Also, the actual new high for 4/19 was 10766 which was the 24th new
>high
>>on our "New-High-O-Meter". <BG>
>>
>>This is one of the points we like to watch. The 32nd new high will be of
>>interest... At least to us. <G>
>>
>>Regards
>>
>>Guy
>>
>>* This was why we decided to go ahead with our short, hoping for some sort
>>of reaction to the down side. <G>
>>
>>-----Original Message-----
>>From: owner-metastock@xxxxxxxxxxxxx
>>[mailto:owner-metastock@xxxxxxxxxxxxx]On Behalf Of Jim Greening
>>Sent: Monday, April 26, 1999 5:56 PM
>>To: metastock@xxxxxxxxxxxxx
>>Subject: Re: Would you believe it?
>>
>>
>>Guy,
>> Just got back and I'm trying to catch up on mail. Hope this one pays
>>off for you. I didn't like the market just before I left and went to all
>>cash except for my LEAP options. I did nibble a little on vacation by
>>jumping back into Schwab Tuesday afternoon after Monday's drop, but that's
>>all I did. Was having too much fun to really watch the market. Now I'll
>>have to buckle down and get back in. I'm still on the long side but will
>>probably mix a few value plays with my usual momentum big cap plays.
>>
>>JimG
>>-----Original Message-----
>>From: Guy Tann <grt@xxxxxxxxxxxx>
>>To: Metastock <metastock@xxxxxxxxxxxxx>
>>Date: Thursday, April 22, 1999 10:03 AM
>>Subject: Would you believe it?
>>
>>
>>>JimG
>>>
>>>Who would have thought that last trade would have turned a profit,
>>>considering the way it started out? <G>
>>>
>>>Went short this morning near the open. Just following the system and
>>>holding on for dear life. <G> Remember, out Intermediate trend is still
>>up,
>>>so we'll have to be nimble here (hard for me at my age <BG>). If
>>>opportunity knocks again, we'll grab 20 to 40 S&P points and run. That
>>>second to last trade knocked our return down to slightly over 20% for the
>>>year, otherwise we'd be at a 50% return.
>>>
>>>Hope you had a great vacation and missed all of the ups and downs of the
>>>market.
>>>
>>>Guy
>>>
>>>
>>>
>>
>>
>>
>>
>
>
>
>
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