Rockwell-Spins off Conexant (CNXT) Message Board

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Technology Stocks : Rockwell-Spins off Conexant (CNXT)

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To: MeDroogies who wrote (1571)	9/17/2000 12:20:06 AM
From: David W. Taylor	Read Replies (3) of 2013

The crash can happen and very probably will. MeDroogies will not see this post directly but what the heck. Let's take your points one by one: 1. << circuit breakers prevent free falls >> They do at first but as soon as the market opens the likelihood is strong that the fall will continue. There are actually levels of circuit breakers but ultimately if the plunge starts, then the final breaker is to close the market. Closing the market is the subject of great debate by much greater minds than ours and will probably not happen. 2. << The Fed has shown willingness to provide liquidity in times of crisis. >> This is also true but ultimately will not work. As I understand it, the "liquidity" would be loaned to large banks to buy stocks to prop up prices. Given the "loan" part of the deal, I believe that it would not help in the end. The Chinese government even went to the extent of buying shares recently on the Hong Kong market but it didn't work. 3. << the Internet may seize up, phone lines might too....but that would be a good thing, wouldn't it? It would prevent excessive panic selling >> The level of panic will be pushed even higher by the inability to trade. Ultimately Joe Six Pack is a mob and mobs don't have brains. I doubt very much whether it would be a good thing. This subject is one rich in history all the way back to the 1600's in Holland, where they used tulip bulbs instead of Dot.com stocks. The crash of 1929 is closest in effect to what we will shortly see. In each era, the crash possibility is denied and some fool usually comes out just before the crash to predict blue skies forever. It actually could be today, in fact. Check out this idiot! "Forecaster Sees Dow Going to 110,000 by 2025" dailynews.yahoo.com Oh... and just to make this CNXT relevant. The little spurt of insanity this week is likely your last chance to get decent money out of this stock.

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