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The Daily Dow LEXINGTON, KY. (August 6): The July draw-down seems virtually behind us now with the Dow less than 100 points from its record highs again. And with the exception of Chevron, the Foolish Four (and a half) enjoyed a fine day today. Some analysts claim the market is oversold, some say the momentum players are taking a stab at the safer blue-chip markets during volatile times, some say it's all program trading. Who knows?
The few analysts I've read recently who actually look at fundamental elements that we prefer here in Fooldom seem to believe the market is in good shape for the bull market we've enjoyed for years to continue. Again, who knows? But I'm a little more inclined to put myself in the camp of those analysts who are looking at things like earnings growth and industry multiples. But either way, bull or bear, I'll stay fully invested. I've taken lumps before and I'll surely take them again. But I'm convinced I'll be better off twenty years from now by staying invested and not trying to pick entry and exit points.
No news on any of our Fool Four stocks today, but an enjoyable day to be a Dow Approach investor. Stay Foolish!
Transmitted: 8/6/96
Today's Dow Numbers
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