Learn Stock Trading Basics Including Online Stock Trading, Online Investing and Option Trading


October 10, 1999. It seems that the more you listen to these stock market gurus, the more you’re
headed to the booby hatch. Listen to some of them: Dec. 15, 1998: “I think that the markets will be a down
year by the end of 1999, your looking at a Dow at 7500.” Dec. 30,1998: “The Dow will be at 1450 at the
end of 1999.” Jan. 2, 1998: “I’m looking at the next bear market by year end to be at 6000 or lower.”

Even though we are in a bull market, you are still getting market mavens predicting a huge up
side or a big crash that will affect the stock market for the next two or three years.

What I’m saying is that the market will continue for the long term with a few market declines
here and there. It doesn’t pay to time the market as long you can sweat it out for several years. Purchase stocks
that have a future and are growing in leaps and bounds and have a high quality of earnings growth.

A reader wrote that he is not making any money, even though there are good stocks in his portfolio.
Well John, welcome to the group. Very few are making big gains because we have been in a trading range since about
August 1998. It will continue for at least a couple more months and then it is going to change for the better.

When my mutual is 5% year to date, you know that the big time traders are working their best
to try and beat the market. That’s why in an earlier article I mention that traders were trying to make a killing on a few dozen trades a day and then you had mutual
funds trying to do the same. You end up paying the piper with turnovers. Is there justice? Not when it comes to

Another factor that has traders working at full blast is that Mr. Greenspan does not want the
markets to get ahead of themselves. So he is keeping them on an even keel because of the recurrence of inflation.
Greenspan wants the markets to remain flat and in a “trading range.” See what I mean?

What should an investor buy now that we are in a trading range? Nothing, unless you have been
reading my articles. I will never make a short term trade on this page. I do not believe in them.

I want to thank the many readers who have sent email, so let the mail come in and I’ll try my
best to answer as many as possible.


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