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In a message dated 2/26/00 8:26:26 AM Pacific Standard Time, swp@xxxxxxxxxx
writes:
<< As for Barron's, they have all the credibility
of the National Enquirer. >>
Steve Poser is right,....both about the credibility of Barron's and what
qualifies as
a Bear market.
As long time readers of Baron's know,..their publication,.like any mainstream
proxy for public sentiment or mass psychology,..is most useful as a contrary
indicator. Abelson has been prevasively bearish for the past five years.
Ask
yourself if Abelson and company would have made you any money if you had
followed their bearish perspective. I would be very concerned if Barron's
got
bullish,...witness their May 4, 1998 cover of a fire-breating bull.
Regarding the Dow,...IF the Dow-30 still had CHV, GT, S, & UK (which were
removed) the average would be down 20.8% vs the current 14.2% for the "New"
Dow-30 with growth issues HD, INTC, MSFT, and SBC. What difference does it
make?
The Investor's Business Daily Mutual Fund Index which is a good proxy for
growth or
New Economy issues is up 11% YTD,...in line with the NASDAQ. Clearly it's
new economy vs old economy and has nothing to do with a bear market.
Regards, JIM Pilliod jpilleafe@xxxxxxx
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