Zeev's Turnips Patch-No Politics (ZEEV)

[DlphcOracl]

Sorry, George, but you've been wrong all year on this market and I see no reason to think you'll get it right between now and the end of the year.

Any correction in September and October will be mild, probably 7-10%, 15% at worst (although I doubt it will be this bad). It has nothing to do with valuation or fundamentals --- it is ALL about increased appetite for risk on the part of investors, both institutional and individual. There are too many money managers who did not believe the rally from the March lows, are still underinvested and underperforming the indices, and are chomping at the bit to jump in for the anticipated Fall swoon. Simply put, because everyone is hoping for it anticipating it, it ain't gonna happen.

Market will resume another leg up beginning sometime in October and carry well into 2004. The piper will be paid much later, probably after the 2004 election. You will eventually be proven correct, but the correction will begin at levels you have not dreamed of. Meanwhile, you will have missed a very significant two year bull market.