>the knock out punch will come when Greenspan raises rates again early
>next year and reinstates the bias to tighten
Um, last time greenspan raised rates the nasdaq shot up more than 25% in 30 days. You still don't get it, do you? This mania has become the integral foundation of our entire economic system. Greenspan knows this, and is running the printing presses at full speed to support the bubble. The NYSE just voted last week to lower margin requirements so that daytraders can leverage 4:1 instead of 2:1.
LISTEN, will you? This market will not go down until every last dime is taken from every last individual, and even then greenspan will just print more money, and the exchanges will loosen margin requirements.
The nasdaq will NEVER reverse course until our economy collapses. Give it up. Shorting in this market is financial suicide. You CANNOT fight the mass delusion of every man, woman, and child in america. They'll win every time. They've got more money than you. Just look at the tens of billions of dollars the poor spend on lotteries, even though 99% of them never see that money again. They dont care! Today's market is a mainline of gambling injection to the populace. Greenspan is giving them what they want. As I said a month ago, the nasdaq is on auto-pilot. NOTHING, and I repeat NOTHING, can ever make it go down appreciably again. The fate of our economy, and thus the economy of the world, depends on our stock market staying overpriced and rising every day. |
