Bob Brinker: Stock Market Correction

Bob Brinker is 100% bullish and his model portfolios are 100% invested. Here are some of his comments that I have excerpted in my weekly summary/commentary of Moneytalk:
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October 28, 2007, Brinker was equating the market correction to "small potatoes." Of course that was before the S&P went flat for the year on Wednesday, November 21st--reaching a 10% correction decline.
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Excerpt from Bob Brinker's October 28th opening monologue:
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"Well, another good week in the stock market and S&P 500 trading just 1.9% below its all time historic record high. The S&P500 sitting in at the 1535 level as we speak and acting very, very nicely. We like to see the kind of a thing that we saw the week before last where we had just a momentary shake-out – one big down day. People running for the windows; running for the exits; panicking for a few hours – this is a wonderful sight for investors, because this is how you rid the market of people who should not be in the market -- people who don’t understand the words of J.P. Morgan. You remember the words of J.P., quote: ‘stocks tend to fluctuate’ unquote – the wise words of J. P. Morgan. And it’s true that stocks tend to fluctuate and so when you run into people who make a big deal out of small potatoes – short term fluctuations, well, they don’t belong in the market in the first place. They don’t understand what it means to invest in the stock market. After all if they did understand, they wouldn’t be making a big deal about a short-term market fluctuation.”

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November 10-11, 2007 comments and some Brinker quotes:
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STOCK MARKET: Bob Brinker opened the program today by looking at the stock market in the rear view mirror. The S&P 500 Index is sitting very close to the 1450 level which is 7% below the all-time-historic record high from just a few weeks ago – which was 1565. Brinker explained that we have seen a number of similar corrections like this in recent years in terms of “magnitude.
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BEAR MARKET: Bob Brinker said: “For those betting on a bear market right now, I’m taking the other side of that wager. I think the bad news bears are wrong again about their forecast out there of Armageddon right now."

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STOCK MARKET (November 10-11): Bob Brinker said: “Well it’s been an interesting week in the stock market….remember last week the bad news bears were telling us, it’s all over now – we were in big trouble now. Well that’ what they were saying a week ago. Of course, it did not turn out that way. We talked about this last weekend. About those bad news bears and how wrong they have been for several years every year as they have been screaming fire in a crowded market only to find that their views were wrong again. This week the S&P 500 chalking up a gain to 1458.74 – a gain of about 1/3 of a percent. The Dow going up 1% to 13,176 and the Nasdaq gaining close to ½ percent, at the 2637 level…….”
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So what does Bob Brinker expect the market to do in the remainder of this year and into next year?
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On Moneytalk and in Marketimer, he has said he rates the S&P 500 Index “attractive for purchase on any weakness that occurs in the area of mid-1400’s.” Above that level, he recommends a “dollar-cost-average approach.”
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In the August 2007 Marketimer, Brinker said he believed the S&P 500 Index would be trading in the “1600’s by next year.”
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In the September 2007 Marketimer, Bob
Brinker said that he expected “….the S&P 500 Index to
register a series of new historic highs into next year."
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Bob Brinker has recently stated that there is ZERO risk of a cyclical bear market (20% decline of the S&P 500 Index) in 2007, and “……in the months ahead.”
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Only time will tell if Brinker will be on this weekend. My inside source has told me that he will not be--and the "source" is more often correct than not. 8^) But if Brinker is on this weekend, what will he have to say about the market's "behavior"?

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