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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: wlheatmoon who wrote (47155)6/15/1999 12:02:00 PM
From: Cynic 2005  Read Replies (1) of 86076
 
A wiseman once said:
<<Nobody here has been right about mucha anything in the last 6 months. So, take what we say FWIW. BTW, I am the one who is predicting a clean sweep of all "margin" (long) buyers in May.>> #reply-9178912

By the looks of this #reply-10116808 (I WAS almost a millionaire, now I spend my days hiding from the Margin police! The liquor store clerk now knows me by name! The Good thing is that, I don't watch CNBC anymore.) it is almost sure that margin pain is acute but complete cleansing has not taken place.


<<So, it is logical to expect:

Jim Grants, John Ps, Mike Burkes and defrockeds of the world will force some discipline to stock speculators by pushing bonds down. As soon as they are done with popping the bubble, they will start buying bonds. This act should achieve two primary objectives. 1) Leverage cleansing (leveraged bond players must be hurting really bad by now, I don't think they are close to being finished yet.) 2) Check speculation.>> #reply-9593622

So far on course, though second objective will not be accomplished until further erosion is seen in averages.

After a majority of the margin wipeout has been completed, it is logical to expect a rip-roaring bounce? Then what? Where do the new buyers come from?

This is an interesting thread - check it out:
exchange2000.com

PS: I am not claiming victory here. I am bruised enough to realize that I have no moral right on saying, "I told you so!"
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