(OT: Y2K) Charles, additionally, ML has done a large corp IT survey and results show that on average, nobody is cutting IT spending (I wish I had a link to the report). I think a market decline will stem from FUD and panic. Although I know Y2K will not cause catastrophic technical failures, many people will sell out, resulting in a self fulfilling prophecy, so do I want to be left holding the bag, do you? It really does not matter if this run is warranted or not, we see "unwarranted" stock (and Market) actions daily. And you know that MM's and Specialists are just going to fuel the fire, and make big $$ in the resulting inferno.
There will be a Y2K panic, and everyone will want to be in cash before it happens (me, for bargains), so when will it happen? Think of all the "uneducated" MF investors that sell, causing redemptions, ouch. I just hope they are the ones who plan on selling in December, long after I have...
I just cringe when I think of how CNBC will respond to the whole mess.
Here's to a profitable disaster!
JavaGuy |
