Continuing to droop, the Dow Jones average lost 17 points yesterday, closing at 2,946.33. Despite its recent slide, the Dow index stands 313 points above its Jan. 1 level and 580 points above last October's low.
AND NOW WHERE? (in proportion received): "Double-dip recession could send stocks sharply lower." (LaLoggia's Special Situation Report) . . . "I can't rule out new Dow Jones highs to 3,070 or even 3,100, but time is running out for the bulls; technical indicators look very poor." (Lynn Elgert Letter) . . . "Investors with one- to three-year horizons should sell stocks up in the Dow 3,000 area. Upside is only one-third the downside potential." (The Floor Trader) . . . "Our model generated a sell signal in September and, crossing below its moving average and coming in the context of a bad recession about to worsen, this is a very strong sell signal." (Turning Points) . . . "Everybody and everything -- magazines, newsletters, TV news, newspapers -- are negative and that gives me a better feeling about the market. When it's obvious, it's obviously wrong." (Robert Bambauer, brokerage firm president).
ISRAEL DIARY: The Hotel Laromme, Jerusalem, charges $3 daily if you watch CNN News . . . Israelis smoke like chimneys and never talk about health, calories, cholesterol or exercise . . . Besides usual airport security, plainclothes men and women watch to see if you're a security "eyeball risk," some signs of which are rapid and hard swallowing . . . From my observations, most of the Scud damage in the Tel Aviv area -- 9,000 homes damaged and 120 destroyed -- has been repaired . . . Embarking from El Al Israel Airline's expensive business class at Tel Aviv's Ben Gurion Airport after a flight from New York, a Baltimorean quipped, "It's not my money I'm spending; it's half my children's and half Uncle Sam's."