Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: AllansAlias who wrote (4525)	7/19/2000 1:04:35 PM
From: pater tenebrarum	Read Replies (4) of 436258

wrong...forget the support. it may bounce once from there, but in all seriousness, two days ago was a major cycle turning point coupled with the worst sentiment data in the stock market's history. we're crashing into the next cycle low now, and that's still 5 weeks away from here. i don't know how big the dump will get, since Al has put the printing presses on overtime, but it could conceivably become a MAJOR dump as the margin mountain deleveraging process begins. also this time almost every sub-sector is overbought, with the exception of cyclicals/basic materials/gold, so it should be an equal opportunity dump across the board. when i asked two days ago who had bought puts besides myself, i didn't get even ONE affirmative. the bear capitulation in this corrective rally has been worse than at the top. i don't even want to know how many professed bears were caught majorly long at this secondary top. there's a possibility that my expected 4-5 trillion market cap wipe-out actually happens sooner rather than later. of course, now that i've said all this i've probably helped the market to bottom... buy the dip...

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