Not everyone on the Clown thread is calling for a massacre. I remain agnostic. All these theories about when you can predict a bottom or a top in the market fascinate me, but just between you, me, and the lamppost, I think they are all hooey. Or maybe not hooey, but gross oversimplification. There are so many "rules," e.g., we won't have a crash until the last bear throws in the towel. Buy when there's blood on the streets. Etc. Etc. Etc. I don't think anyone really knows. Maybe Voltaire's angels, but I don't really think they are telling.<g>
60% of American households own stock. It would take a major paradigm shift to end that. Most of the people I am talking to won't retire for another 20 years, and they are just taking this in stride. It's a setback, of course, but you can't time the market. Anyone who is investing the grocery money, especially on margin, is foolish, and foolishness does not pay in the long run. |
