Dave, IMO, it's a temporary fix. I don't have a clue as to how high or how long this countertrend rally lasts, but we may know more after this week.
It's scary to think that people just add more money to their long brokerage accounts due to margin calls, instead of selling stocks.
Everyone still thinks, in the long run, stocks will come back, heck they always do, right?? And, besides, that's what the so called experts told them to do.
I subscribe to a trends studying research firm. Last spring in an article, they had mentioned to take a snapshot, this is good as things get. This spring, they mentioned to take another snapshot, spring 2001 will soon be looked back on as the good old days. Sobering words, huh?? |
