Here are the highlights from the Featured Expert column:

If you're sifting through all the Bull protagonists, you will want to listen to what Jack Schannep editor of the Schannep Timing Indicator. Fortunately for subscribers of his newsletter, you can chat with Jack Wednesday April 3rd at 4:30 PM EST at Zacks.com.

By following his BUY Signal indicators, the chances are very good (15 out of 16 times) that the market will rise (an average of +46%) and that will usually cause most stocks to rise. Knowing when to buy is great but it's only half the battle. It is under SELL Signals that Schannep's out performance versus Buy & Hold can occur, and that was the case in 11 of the 16 SELLs since 1953. Every Bear market since then has been signaled by my Indicator. SELL Signals have avoided, on average, over 55% of Bear Market losses.

Can you believe the Dow Theory Buy signal and that this Really is a Bull market?

I realize that some Dow Theorists do not recognize that the Theory has generated a Buy signal, and none have agreed with my announcement of one at 9587 last November. The problem evolves around the definition of 'secondary reaction' as described by Charles Dow and his immediate successors. A secondary reaction is a counter trend move against the primary stock market trend. Mr. Dow had written over 100 years ago that "The secondary movement covers a period ranging from ten days to sixty days, averaging probably between thirty and forty days." And finally, "a rally or a decline is defined as one or more daily movements resulting in a net reversal of direction exceeding 3% of the price of either average".

Confused? Look at it this way: After a Bear market such as we were in throughout 2000-01 during which both the Dow Jones and the Standard & Poors Averages dropped over -16%, when the market then turns up it can either be a secondary reaction within the bear market or it can be a new primary up trend. Even after the first prolonged rally in 1998 other theorists were put off by the fact that "the Transports only retraced 26.9. This time the Industrials only retraced 31.7% and the Transports 28.3% yet at least one of the previously rigid theorists joined in with a Buy some 780 points later. My Buy signal was derived after the 13.8 to 15.9% rises on the Industrials and Transports respectively from their 9/21 and 9/20 lows. But does that define a Bull market? No-o-o, it doesn't but advances on both the Dow Jones and Standard & Poors over +19% does. That is the reciprocal of the -16% definition of a Bear market, a +19% advance offsets a -16% decline just as a -16% decline offsets a +19% advance. By almost anyone's definition this IS a bull market, which should answer the rest of the opening question. So how do you play it? The surest way to participate is to diversify, diversify, diversify, and then exercise patience. I use the Dow Jones Index Fund and the Standard&Poors500 Index Fund to assure results in the range that the major markets attain.

If you've ever wanted to learn how to time the market chat with Jack Wednesday April 3rd at 4:30 PM EST at Zacks.com or to find out more about the Schannep Timing Indicator. http://www.featuredexpert2.zacks.com

About Zacks Featured Experts

To be a successful investor you need professional advice. Experts who know what they're talking about and can help you achieve your financial goals in good markets ... and especially in bad ones will help you improve your portfolio. That is why Zacks Investment Research has assembled the best investment experts in the business to offer their powerful advisory newsletters to you on all the major investment topics: Stocks, Mutual Funds, Bonds, Options, Futures etc.

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