Detoxing the Markets: Bears Still Look Hungry

Source: www.thestreet.com ^ | 07/16/2002 | By Peter Eavis

[Lazamataz]

I'm right so far. Sharp spike up. Prediction for remainder of day: Selloff to close at about the place we started. Maybe a twee bit of a gain.

[steveegg]

Okay; closing numbers (remember, I am a bear):

Dow +48
NASDAQ +14
S&P +3 (that's been lagging.

[Lazamataz]

I'm willing to sign on to that. Maybe one indice slips negative, though. Call it S&P since they have been and continue to be brutalized.

[Lazamataz]

Dow +48
NASDAQ +14
S&P +3 (that's been lagging.

We didn't do too bad!

DJIA: +69 was the result.
NASDAQ: +21.99 was the result.
S&P: 0.00 was the result.

While I wasn't willing to offer hard numbers, I offered slight gains for DJIA and NASDAQ and a breakeven or slight negative for S&P.

[Cagey]

Be careful you don't wear your arm out....patting yourself on the back. LOL...I am impressed, Laz. Good job. Today's prediction?

[Lazamataz]

Market will start flat but AOL's new numbers (accounting fraud again) and the inability of several companies to make their dividends will cause the market to tumble moderately. Say two digit loss for DJIA, fairly harsh loss on NASDAQ, and S&P takes another break. No great loss there.

[Lazamataz]

Say two digit loss for DJIA, fairly harsh loss on NASDAQ, and S&P takes another break. No great loss there.

Okay, now I am starting to scare myself.

DJIA: Minus 132 (I was 25% high on this prediction)
NASDAQ: Minus 40 (or almost 3%, which I think is harsh)
S&P: Minus 24 (kinda missed this prediction)

[rohry]

All bow down to Laz, the great seer, the prognosticator deluxe...

What say you for IBM, oh great one? 50? or 120?

Inquiring minds need to know (especially sinkspur's)...

[RightWhale]

I wouldn't expect this weakness to be out of the market for the time being until August. Waiting since the middle of May for some calm to settle in.

[Lazamataz]

All bow down to Laz, the great seer, the prognosticator deluxe...

You are not behaving sycophantically enough. ;^)

What say you for IBM, oh great one? 50? or 120?

Did you ever read Foundation? You know how Hari Seldon could predict the actions of vast masses of men using mathematics? Psychohistory, I think he called it. As you remember, though, he could not predict the actions of an individual.

So it is with me. ;^)

(Actually, I cannot predict a ****ing thing. I just got lucky twice.)

[Lazamataz]

Okay. Today's "See If Laz Gets Lucky" session has me predicting a SHARP selloff in the morning hours, followed by a mid-to-late day rally, ending with the DJIA having gotten it's ears boxed again, S&P taking it harder than yesterday, and NASDAQ getting a relative break but still negative.

Just so I am clear: DJIA ends 2 to low-3 digits lower, S&P is about 1-2% lower, and NASDAQ -- while lower -- is not meaningfully in losing territory.

[Neets]

Good morning Mr. Cleo.

[Lazamataz]

Good morning Mr. Cleo.

[strela]

In light of today's uncertain investment picture, here is some food for thought:

If you had bought $1000.00 worth of Nortel stock one year ago, it would now be worth $49.00.

With Enron, you would have $16.50 of the original $1,000.00.

With WorldCom, you would have less than $5.00 left.

If you had bought $1,000.00 worth of Budweiser (the beer, not the stock) one year ago, drank all the beer, then turned in the cans for the 10 cent deposit, you would have $214.00.

Based on the above, my current investment advice is to drink heavily and recycle.

[Lazamataz]

Mr. Cleo sees a hangover in your future, Mon. CALL NOW! ALL CALLS ARE FREE TO SPEAK TO DEE SHAMAN MR. CLEO!

[Cagey]

"When E. F. Lazamataz talks, people listen"

I like it. Need an agent?

[Lazamataz]

Selling ripped the major averages Friday as a criminal probe at a major drug company and weak outlooks from several technology companies sidelined buyers. Stocks have dropped in eight of the last nine sessions and the Dow is down well over 1,000 points since rallying July 5th.

DJIA down 163, S&P down 16, NASDAQ down 24.

Who's your daddy?

[Southack]

So you're predicting that the major indexes to the Market will drop in a Bear Market.

Man, you're really going out on a limb here!

[Lazamataz]

So you're predicting that the major indexes to the Market will drop in a Bear Market. Man, you're really going out on a limb here!

Tremble before my awesome power!