Tulipomania Blowoff Contest: Why and When will it end? Message Board

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Non-Tech : Tulipomania Blowoff Contest: Why and When will it end?

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Jun 26 5:00 PM EST

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To: Dale Baker who wrote (2807)	4/17/2000 5:33:00 AM
From: EL KABONG!!!	Read Replies (2) of 3543

Hi Dale, Nice to see you weigh in with an opinion. I take it that you were savvy enough to avoid the majority of the blood-letting this past week. I'm questioning myself as to why I don't feel any real sense of panic or urgency in this correction (or bear market environment). Perhaps it's because I went mostly to cash over the past year. Currently I hold only three equities. I have substantial gains in all three, and two of the three are considerably off of their 52-week highs, yet I don't feel badly about that. I see corrections as a part of the game. It comes with the territory. Easy come; easy go. No, I think the real reason that I'm not worried is that I don't have a seller's mentality at the moment. The money that I currently have in equities is for the future, the distant future at that (perhaps 15 or 20 years out). So I don't see red ink on the charts as a paper loss. I see it as an opportunity. The cash I've accumulated over the past year by culling out losers and overvalued winners is intended for buying. So I'm actually somewhat gleeful about being able to find some real bargains in the market across a multitude of sectors and industries. I've got a buyer's mentality right now, and the recent lower prices on many stocks is akin to some sort of manna. I kind of feel like the kid in a candy store with a twenty in his pocket. What to buy next... <g> Actually, I probably won't be buying anything this week at all. I'd like to see some evidence of sensible valuations. I'd like to be sure that there aren't any dead cat bounces lurking out there. While I don't expect to catch any stocks at a bottom, I do expect to be able to find some real bargains out there. At least I hope so... Good luck to you. And nice to hear from you again. You've been absent from this thread for too long. KJC

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