Ask Colin

Your January 2001 Shares magazine article on phases of a bear market did not identify the current phase. Could you clarify which phase we are now in?

My view now (mid February 2001) is that we are entering phase two. We have seen the profit downgrades that represent the abandonment of hopes. We are now seeing the actual lower earnings reports coming out. Don't be in a hurry to find the end of the bear market. It may have only just begun. I hope not, but I fear so.

By the way, when I write in Shares magazine, I have a different brief depending upon what I am writing -

When I write my charting analysis articles, I am teaching the theory on the basis that if I tell you what to do, you are right for now, but keep needing an update from me. However, if I teach you how to do your own analysis, you can become your own master.

When I write my Trendlines column, I discuss specific stocks and usually give a clear view, while providing practical examples of my analysis methods.

When I write my Trendtrader column, I take a view on the market. This column has only been running a few months and is already provoked some controversy. This is good, it is meant to make people think.

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