I was watching 60 Minutes II (Tuesday version of CBS 60 Minutes) and noticed that virtually every ad was for a mutual fund company. There were 2 or 3 that said "so what the market has had a big correction -- stay the course!"

I figure that all the mutual fund companies have "don't panic" ads they keep in the can, waiting till they need to keep people quiet during "stressful moments" in the market. But why run these ads on Tuesday night? A 95 point drop in the DOW is nothing? Are they expecting a REALLY big drop on Wednesday? Things may get very interesting very soon.

-- David Holladay (davidh@brailleplanet.org), November 24, 1999

Answers

www.wwfn.com/crashupdate.html

The Crash Update lists a -10 as a crash warning and for investors to get out of the Market.

It is now at -8.

I have been watching this site for a few months. This is the first time I have seen a -8.

So get into position with Put Option Contracts and you'll make a bundle!!!

-- freddie (freddie@thefreeloader.com), November 24, 1999.

You mean Prudent Bear might finally make some money?!! They are running out of new topics for their editorials...

-- You Know... (notme@nothere.junk), November 24, 1999.

The key is to listen to the independent analysts who have been Bulls. When they start shifting, and some are becoming concerned, you have to listen they have the credibility. Perma-bears and perma-bulls both have blinders.

-- squid (Itsdark@down.here), November 24, 1999.

We are going to have some severe oil shortage problems very soon and I don't think there is any way that Greenspan and the Plunge Protection Team are going to be able to come to the rescue this time. Saddam Hussein is tired of economic sanctions put on Iraq by the U.N. and it looks like now he is going to be putting some on us where it really hurts by cutting us off from their oil. With our supplies already getting low and Y2K just around the corner, oil is going to get really expensive, causing inflation to go through the roof. It's still hard to say what will burst the bubble first, Y2K or oil shortages, but either way it looks like it is going to get hit by a double whammy.

-- Hawk (flyin@high.again), November 24, 1999.

Hussein does what we tell him to do. Get real.

-- Spidey (free@last.Amen), November 24, 1999.

Here we go again with the "any day now" routine.

This was funny back in October when you losers were talking about it on the 70th anniversary of the big crash but now it just goes to show what a bunch of paranoid, fear mongering, misinformed IDIOTS you are!!

-- (go@back. to watchting the X-Files), November 24, 1999.

Hawk,

Well said. Spidey is spinning another consiracy web.

-- Downstreamer (downstream@bigfoot.com), November 24, 1999.

My take, based on a fairly steady diet of CNBC (yeah, yeah, I know it's bad for me, and I'm trying to quit) is that for the past month or so, Wall Street is in a steady condition of fearing "a collapse within days".

Each time there's a grim looking day, they yammerheads all but rend their garments and cry "Is this IT? Is this IT???"

It's like they're on pins and needles, listening for the sound of a twig snapping.

And, of course, as this has been happening, so has their increasing tempo of mention of "the y2k". Two months ago, it was maybe once a week or so. Now it seems like it's a few times an hour.

-- Ron Schwarz (rs@clubvb.com.delete.this), November 24, 1999.

I tend to believe conventional wisdom about crashes -- they come when you least expect them. It's arguable that the euphoric run-up was the final hurrah (I certainly believed this), a argument against a crash is when people are talking pessimistically. They call this the "wall of worry". It suggests that the requisite complete delusion is still not quite in place. Course conventional wisdom and Y2K have never crossed paths before either. If you sincerely believe there is money to be made in any investment, it is a big mistake to try to get cutsie and time it. Put your money on the table and be patient. I am personally have been bleeding money into the Prudent Bear fund since May. I'm down 4%. Oil's up. Gold's up. Interest rates are up. I feel rather optimistic about my current position.

-- Dave (aaa@aaa.com), November 24, 1999.

Alright Downstreamer: answer me this; I can buy that Saddam might turn off his spigot in an attempt to throw a monkey wrench into the western economies,but wouldn't any shortfall be made up by the Saudis, Kuwaities and the rest of the Gulf states? Seems they have a very strong vested interest in the US staying fat and happy! After all, we're the only thing preventing Saddam's tanks from rolling down the Arabian Pennisula.

-- RalphKramden (And@AwayWeGo.com), November 24, 1999.

Hey Ralphy boy!

This is only for a limited time.

Come January, oil is going through the roof.

Got a bike!

-- nothere nothere (notherethere@hotmail.com), November 24, 1999.

Hey Nowhere man; actually I have two bikes , four sets of tires and a free mass transit pass.

-- Ralphy boy (and@away wego.com), November 24, 1999.

Ralph and Nothere,

I'm with both of ya. And lets throw in big time hoarding that's already hitting. We had another Tues night weekly oil inventory report that reflected distillate demand at 4.2 mil barrels a day- thats normally peak winter consumption rates. It reflects diesel and heating oil flowing from the oil company tanks to secondary storage (commercial, oil jobber, and transportation firm tanking). Thats why crude was up another 50 cents/ bl and products were up 2 cents in Wed's shortened session.

Buy into any price dips, including the one that'll unfold when the Saudis announce the're gonna increase production to make up for Iraqi shortfalls (late next week?).

-- Downstreamer (downstream@bigfoot.com), November 24, 1999.