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Strategies & Market Trends : Roger's 1997 Short Picks
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To: Joss who wrote (7668)12/2/1997 1:19:00 AM
From: space cadet  Read Replies (2) of 9285
 
Steve, with all respect I definitely am in complete disagreement with you. I agree with Roger's last post, that we are heading higher and higher quickly. I just wish I was as nimble as Roger at covering my short positions. Unfortunately I'm not and so today was a rotten day for me. I will cover on any weakness, which I hope will appear some time tomorrow in the afternoon if I'm lucky. Asia is very strong tonight except for Korea with HK up 4% so tomorrow will open strong most likely. I think anyone short in December may get wiped out, except for those people in just those truly weak shorts that even a tornado can not move. Unfortunately I'm still in yhoo and ctxs and they look like they are ready to make a move much higher. Incidentally, a crash from 10K to 8K is a 20% correction if you are weak on math. We haven't had a crash like that since '87 and only rarely this century, so I think you are dead wrong on that one.

"I could give a number of reasons (macro economic and stock fundamental) why we should not do as you suggest."
Why don't you give your reasons if you really have some. In my opinion, as long as the baby boomers are still working and inflation is low, a 20% crash is the maximum and it can only crash for a short time a la 1987 before recovering. I agree that after 2000 or more likely 2005 when the boomers start retiring and cashing in their chips we can and probably will see a bear market a la 1973-74 but until then anyone who is permanently bearish is "pissing against the wind" to quote Mr. Steve Goldman, a very wise man, imo.
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