So Clinton is supposed to be the most powerful man in the world, but if he came our tomorrow and said "I think the market may be overvalued," would Tokyo drop 3%, G.B. drop 2% and the U.S. drop almost a percent.
It is also interesting to note that Greenspan said the exact same thing in 87 two months before he raised interst rates. Then the market crashed.
William J. O'Neal says (in not these exact words) only two things bring the market down into a bear market, interest rates and recession.
SO I say to all, be careful, and stay off options and margin. |