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RTs:
So glad to read Bob's commentary. I also keep track of the WillSpread (and
an MA of the A/D etc.) Anyway, I'm still sticking to my view from 10/30:
"This may be what Rhea and Russell term a secondary reaction. If we are in
the early stages of a bear market, this rally will allow the "most damage"
to occur. The "greater damage" theory seems to me to be a interesting
indicator of possibilities. Every amateur stockholder is watching Dow 9000,
hoping... hoping..."
Recently I have had an opportunity to talk to some "men on the street" who
have portfolios (mutuals etc.) They are all still reciting: "I'm in it for
the long haul" and they've never even seen a chart of their equities. I
notice too, that they have no stop losses and believe religiously that
"diversification" will save them. If they're lucky, then Peter/KKD is right
and we have a new bull arising. If not, nothing can save them.
I tend to suspect that the public will not win out, and that the big
players are already gone. Of course my predictions do no-one any good, but
there you have it. Even if we get new highs, I will play along only very
defensively and short-term.
PG
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