From KM's post of the anal-cyst >>>It's not like it's (the VIX) going up to the 60-percent level, like we've seen in the past.'<<<
Is that a dare???? And I hope your happy that I won't be able to sleep tonight now thinking of this post of yours >>. I sit around in my lace teddy... <<
American spirit said "but the harder things fall the sharper they rebound" I don't imagine you would consider reversing that and realize that the higher the irrational rally from October, the harder they fall. Nah, didn't think so. <ggg>
Regarding your post"Movies. Another thing America makes better than anyone" I beg to differ. We may make movies that the dumbed down masses go to see for stupid humor, predictable plots both love stories and "Action movies" ( can VanDamme, Segal and Schwarenigger really take on an entire countries army alone and win? If so, how come I have to go to the Desert every 6 months and babysit Saddam with a entire Fleet of F-15s, F-16s, B-52s, B-1s, A-10s etc etc and thousands of other poor married men that miss thier wives, let's send on of those guys in to end this stuff) It is sad that I have to either get independant films and even they are mostly foreign to see a really good movie. As for seeing no risk, I suggest you take out a chart of any of the NDX stocks and draw a long term trendline and see exactly where these should be trading. I think if you open any TA book and draw the line you will be shocked to see that they could drop 50-75%. I seriously doubt that will happen as I don't think this is THE top yet but anything is possible and no one thought the PE ratio of the NASDAQ would go up a few hundred percent in a year either.
Regarding the market, Tomorrow is the key, a strong down day and it is 3 Black Crows time again just like the last year. It may not come right away, but when Don was pounding the table last year and warning everyone only to be ridiculed, the second leg down was the one that hurt. I know I will be watching and waiting..... Now if I can just stop this urge to dip. <ng>
PS - To the poster that felt my pain, I wasn't short, I was just mad that the most undeserving stocks are the ones that continue to defy gravity. Even today, many of them lost less percentage wise than companies that have a real future. I don't really care other than this market would move much better and be safer to trade if the Momentum stocks would get some sort of realistic valuations to them, correct faster when they got out of whack and value investing actually could make money. We are setting ourselves up for a very very bad ending eithe rtomorrow or 10 years from now but it will come. If the market would get back to some resembaence of reality, we could still make money and sleep much better at night. I haven't held a position more than a couple days now in a year. I stopped trading on fundamentals pretty much long ago. I still try to let it be the deciding factor in the end and I analize for practise but TA is the only rule now and some of these stocks are so vertical that even TA doesn't work anymore.
Good Luck,
Lee
PS - I have my little rocket home.att.net
but unfortunatly I have to sell it as it only seats 2 and with #3 ankle biter on the way, it is totally impractical. I will be building a 27 Studebaker next with rear suicide doors to seat the whole family. Should be ready by the time the "real" bear market turns up. <ggg> |
