"Our view is that a seat at the Sideline Bar and Grill is the best part of valor until we get towards the end of October. In the meantime, a very worthwhile pastime is assembling a list of the stocks you might want to buy if they start going up. . . . There is absolutely no purpose in buying anything that has not stopped going down, formed a base and turned up. There are simply too many stocks to choose from for you to bother with distressed merchandise. The most recent example is Sun Microsystems. SUNW made an important low near $4, and a lot of people bottom-fished it between $4 and $4.50. Its most recent low was $2.70. I have nothing against Sun. I just want it to stop falling and start rising before I consider it."
-- John Bollinger's Capital Growth Letter,
Manhattan Beach, Calif.
"If you believe as I do that the dollar is way overvalued, then [the] upward movement of gold is still in its infancy. It took out a major resistance point of $326 per ounce like a knife through butter. The next targets are $350 and $400. . . . Volatility is the name of the game, but the fundamentals indicate higher prices for the euro, Swiss franc and, therefore, gold, silver, platinum and palladium for some time to come. So what should you do? View any pullback in precious metals prices as an opportunity to buy."
-- Glen O. Kirsch,
Asset Strategies International,
"Have you noticed how much attention suddenly is being paid to cash dividends? The media now make quite a flap over the long-term total return of the S&P 500, which is boosted by the cash dividend. Big deal! I have been publishing these data monthly for over 25 years. You need only to look at the numbers in the upper right corner of this page to determine that 67.3 percent of the S&P 500 and 64.0 percent of the Wilshire 5000 total returns derived from cash dividends. . . . Not long ago, guests on 'Wall Street Week' and CNBC were badmouthing cash dividends: 'Cash is trash.' They're probably job-hunting now, after losing billions."
-- Charles Allmon,
Growth Stock Outlook,
"Health care is currently the strongest of the broad-based [stock-market] sectors. Fidelity Select Health Care (FSPHX) is typical of the bunch, falling a less-than-average 4.4 percent in September, bringing its year-to-date loss to 21.3 percent. That says a lot about this market when one of the strongest-performing groups is sporting a loss of more than 20 percent for the past nine months. Fidelity Select Medical Delivery (FSHCX), which focuses on HMOs and hospital management, is trying to buck the trend and was able to post a small gain for the month."
-- Ron Rowland,
All Star Fund Trader,