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Technology Stocks : Broadcom (BRCM)

BRCM 54.67

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Feb 9 4:00 PM EST

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To: DOUG H who wrote (2076)	6/26/1999 1:38:00 AM
From: Rarebird	Read Replies (2) of 6531

< I believe 1929 was brought on by rampant margin buying, where everyone and their brother where borrowing every $ they could get their hands on to throw at the market.> Correct. Last Month the NYSE reported 181.9 billion in outstanding margin debt as of the end of April. The highest level in history. The number was 25.5 billion higher than March. This was the largest 1 month increase of all time. Figures for May should be released shortly. Last Week the Fed released its Flow of Funds Data: Equities as a percentage of total financial assets hit new record highs for both institutions and households. Household debt as a percentage of disposable income also hit a new record high of 96.3%. You all think that the Stock Market is still going up up and away to Pluto? I'd say we are on one of Saturn's Rings right now and the clock is ticking slowly.... Face it: If your long this Market, especially high PE stocks, your living on borrowed time.... The Day of reckoning is coming soon. Don't ask me when. I don't know the exact day. But the warning signs are there flashing its signals. It's no new era. It ends the same way it always has: tragically.

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