10/19/2003

Markets and Economy
EVERYBODY IS BULLISH

And that is what scares Marty Zweig, one of the best advisors out there. One of Zweig's biggest market indicators is the number of "experts" who are bullish or bearish and when 80% go either way he thinks it is time to put up the warning flags. That is why he is now very cautious, but fully invested.

If you watched William O'Neil on TV this last week you saw the best of the best tell you why he is bullish and what to watch for. My worry is that EVERYONE is now seeing a Dow 11,000 very soon. I'm with O'Neil and Zweig: keep on keeping on. Watch your numbers and your numbers only. The name of the game is still JOBS. Too many people now see a potential for seven percent growth in the fourth quarter when only dopes like me were saying this three months ago. Let's see. Things just can't get that good. Or can they.

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