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Non-Tech : The Critical Investing Workshop

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To: RocketMan who wrote (15873)	4/23/2000 12:34:00 AM
From: elpolvo	Read Replies (2) of 35685

rocketman- think back two weeks ago. you couldn't have made that post two weeks ago because you didn't feel that way. the only thing that's changed in the last two weeks is the level of the NAZ. the fed hasn't gotten worse about interest rate increases, the economy hasn't gotten worse, tech companies earnings haven't gotten worse. the ONLY thing that's happened is that everyone took a little money off the table (mostly to pay taxes - probably more taxes than ever in history - and don't forget those estimated tax payments for 1st Qtr - those babies were BIG this year too.). the decline hit the margined accounts and they had to sell too. both these issues fueled each other and made a big wound in the value of the NAZ. and it wasn't the houses and analysts saying that the new economy stocks were overvalued - they've been saying that every day for the past 3 years that i've been in the market. do you think everbuddie just all of a sudden said, "hey. they're right!" nosir. the exact same thing happened last year at exactly the same time to the stocks that had grown the most in the previous year. give it two more weeks to heal. then look back at yer post you just made and see if you feel the same way. i don't think you will - but if you do... by all means... post it again. my guess is that you won't even mention a NAZ 2900, it will sound stupid two weeks from now. no buddie likes to sound stupid. 'sept polvie and homer simpson. d'oh. love, polvie (i might be stupid, but at least i'm stupid)

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