Amazing, the thread is now searching for conspiracy theories! How about the Russian war in the Chechen Republic? All about control of oil. Of course, they have no infrastructure to get it out, as of yet.
Here is a small excerpt from the cover story of this weeks Barrons, about a Yale economist named Robert Shiller>>
Not surprisingly, his diagnosis is harsh and uncompromising. "The market is high because of the combined effect of indifferent thinking by millions of people, very few of whom feel the need to perform careful research on the long-term investment value of the aggregate stock market, and who are motivated substantially by their emotions, random attentions, and perceptions of conventional wisdom," he writes.
In Shiller's bleak view, it's not that investors are stupid; it's that they're limited in their ability to react rationally to an ever-changing stream of events. Instead, they take shortcuts that can prove lethal in market settings. People tend to be unduly influenced by the actions of others (herd instinct) and prefer safety in numbers. Pretty well sums up my feelings too.
I suggest all here spend the bucks and get a copy, or sign up to read Barron's online. barrons.com
As I said yesterday, the puts were getting overbought, which led to the rebound at the end of the day. Which made the index puts cheap again at the eod, and we have a repeat going on in the markets now. (indexs dumping)
Just remember, you can play this game in both directions....
The Naz looks to be on track to take out the years low, and then some. But that is fungible, a day by day play for me at present.... |
