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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: pater tenebrarum who wrote (72767)10/30/1999 3:25:00 PM
From: paulmcg0  Read Replies (2) of 86076
 
It's all about symbolism... I don't think that the market crashed in October because Wall Street is aware of the value of symbolism in pushing grossly overpriced stocks.

Last week was the 70th anniversary of the Crash of 1929, and stocks have traditionally done poorly in the month of October. I have a suspicion that the powers-that-be on Wall Street pulled out all the stops in a series of market manipulations, and use of the financial media to prevent the market from crashing in October.

That way, they can say, "See! It's different this time! Markets don't always go down in a cyclical fashion!"

Eventually, though, things are going to collapse. You have the usual factors like very narrow breadth that have been frequently discussed, but you also have factors like the large numbers of people trying to sell popular stocks, outnumbering the number of buyers. Watch the action in popular Internet stocks on the Island ECN order book ( island.com and see what I mean.
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