Good morning everyone. I have only read the last 40-50 posts. I will catch up later today. Again, I want to say what a wonderful opportunity it is to have access to the posters who regularly contribute to this forum.
Yesterday was one of the most profitable days for me on paper. I did not sell my few puts because I do not think this is over. On Monday I went on record as saying we would crash this week, after crying crash in general for about three weeks, so I am not jumping on the bandwagon.
I only want to say this morning how bizarre the coverage has been thus far. Some of you guys really nailed how this would unfold. Overall, I sense the spin doctors are trying hard to put in a sentiment bottom. There are many stories reporting a sentiment similar to the following from Reuters this AM:
``Today gave back the final bit of frenzy that started
last October and broke the back of the complacent
investor,' said Scott Bleier, chief investment
strategist at Prime Charter Ltd.
I don't think so Tim.
We have only begun to nibble at November's gains, let alone October's.
What I sense from the other boards goes along these lines:
God I am glad I am a daytrader. Yea, the long-term account
has taken a bit of a hit, but it will come back soon.
Well, I lived through my first crash. Not so bad.
I do think things are a little overdone now. I am buying
X, Y, and Z and will be looking to accumulate various
others next week.
If we do not capitulate next week, I think the bounce will attract buyers from this new crowd of "smarter than the average bear" types who saw last week as a pic-a-nic and a minor Boo-Boo along the path. (Sorry, could not resist :)
--Allan |
