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Guys:
For what it's worth (since you've always been so kind with your advice) - my
thoughts on the market: The underlying US economy is sound with high
confidence and increasing productivity. Also, the balanced budget will
reduce the demand for money and, with it, interest rates. The "nifty fifty"
have taken some hits recently, and are due for them (the overall market
having risen 85% in the last 2-1/2 years). This is a pretty rosy picture,
but the international dependances aren't so nice. Asia, and possibly Latin
America, may undergo rising interest rates brought about by currency
problems. I've also heard it said that Germany is trying to raise rates (can
anyone confirm this?). This will tend to slow our exports to these areas,
and dampen MNC earnings (ie., the nifty fifty and other big caps).
All of this being said, I tend to agree with you, Jim. I think that we are
in for a consolidation phase but are still in a bull market. I think that
small caps have greater appreciation potential than large caps (no
quantifiable charachteristics to offer). As far as which sectors are better,
your guess is as good as mine.
As usual, this and 25 cents .................good luck to all!!!!
Mark
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