Market Strategies and Insights: Current Weekly Report

Walter Deemer's Joke Of The Month -- August, 1996

"July 23 is my first official sell signal since 1990."

"In the last four sell signals [since 1980], I sold within two months after the peak. Each sell signal came within 4% to 8% of the peak."

"The current cycle peak was at 678.44 on the S&P 500, on June 5."

-- Elaine Garzarelli, August 1996

NOTE: Ms. Garzarelli's "sell signal", mistimed though it may have been, was not what qualified her for the Joke Of The Month this month; Lord knows, everyone in this business makes mistakes sooner or later. But her arrogant attitude towards the market; an attitude best summarized as "I've issued a sell signal, so the market CAN'T go up more than 4% to 7%" from here; well, THAT attitude easily qualifies as August 1996's Joke Of The Month.

(Unfortunately, her attitude is being propagated by the media -- and by a very high-priced direct mail campaign -- to a LOT of investors. That part isn't funny at all.)

Last Month's Joke Of The Month

The 1995 Joke Of The Year

Heard a REALLY good one lately? Send it to us at info@walterdeemer.com; maybe you'll get our next "Joke of the Month" award!