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More stepping stones in the wall of worry which the bull shall utilize.
I was asked recently if I was ever bearish and I answered them with a
resounding yes! However, I do not get bearish, I do not get short, I do
not build steps in the worry wall until .. *until* .. I see a mostly
bullish attitude on this and other lists along with the t.v./journal
"experts". *Then* and only then, I will begin an aggresive shorting
campaign. Every day, the mail from this list simply tells me I am ok with
being long into selective sectors.
Since it's rare anyone actually give a stock recommendation, I will suggest
for investors and even position traders, ATT. T is undervalued and the
long distance rate news has pushed the stock down beyond what was
reasonable. Analysts need to take a better look at where T derives its
income now and where it will derive it into the future. C. Michael
Armstrong has as his rallying cry, "Diversification" , and as all the cable
businesses begin to meld into T's phone/internet businesses, competitors
are going to be left crying "how did they do that?" Also, worries about
recent rulings forcing T to allow competitors onto its newly aquired cable
systems are unfounded. Mr Armstrong is very close to the FCC chairman and
the commission has already sent out warning shots about cities/counties
trying to make rulings which are the domain of the Fed. At $47, T was a
gift .. at $50, it is an extremely low risk, potentially high return stock
both long term and short term. (Oh, and it has the liquidity to make it
attractive from that perspective).
Bob
At 07:28 AM 8/27/99 -0400, Gordon Rose wrote:
>What? Are you implying it's a problem if only a few stocks are driving the
>numbers while the average issue languishes <g>?
>----- Original Message -----
>From: Ronald McEwan <rmac@xxxxxxxx>
>To: <Realtraders@xxxxxxxxxxxxx>
>Cc: <realtraders@xxxxxxxxxxxx>
>Sent: Thursday, August 26, 1999 11:37 PM
>Subject: Gen:NASDAQ Advance Decline
>
>
>> The attached chart should not be veiled by anybody with a heart
>> condition, or even worse, by anybody with substantial long positions in
>> NASDAQ Stocks.
>>
>> Ron McEwan
>>
>>
>
>
>
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