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Abelson is in the same category as Walter Winchell...drumming up
contrversy.One columnist does not make a whole publication the "Natinal
Enquirer" of Finance.Comparing IBD which I also read to Barrons is like
comparing the New York Times to USA Today.They all have their place in my
book.It is not a question of who is right or wrong.
When you see the Bear on Time magazine cover-Buy.When you see the Bull on
the cover-Sell.Same with Abelson.
Sincerely,
John
>From: Jpilleafe@xxxxxxx
>Reply-To: Jpilleafe@xxxxxxx
>To: <realtraders@xxxxxxxxxxxxxxx>
>Subject: [RT] Re: Market Direction-Dow/S&P
>Date: Sat, 26 Feb 2000 13:51:30 EST
>
>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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