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: RockyBalboa who wrote (3113)	10/18/2000 6:15:51 PM
From: Mad2	Read Replies (4) of 3543

Interesting Cramer article. Timing on the advise may not be the best (how about 6 weeks ago). While today looked like capitulation, I think this bounce will be a "short one". Feels like the market is about to wring out as much excess as it can. Did see Fleckenstein mention that margin debit at end of Sept. was 250 bil, up 3.2 bil over previous month. Wonder how much of the 250 is in short positions;?) m2 The Margin Reaper Comes Calling By James J. Cramer Originally posted at 4:39 PM ET 10/17/00 on RealMoney.com Click here for the latest from James J. Cramer. Lest we forget what is going on, my margin-clerk friends have come back to me with some magnificent new information. Last week produced record levels of margin calls, compared to even April of this year. There was a lot more wipeout than I thought. I wouldn't be surprised to see some very big declines in the margin numbers next month. The contrarian in me likes that for the market. We want to see a decline in margin debt. But I hate it for the economy. It is going to make retail sales for the holiday season much tougher. People feel poor. Check this note out, in case you don't believe me: Jim, I just sold my boat, golf clubs and cancelled the purchase of a new home. My wife and I just sat down and restructured our finances. We will be spending way less. Why? The market (or a stupid moves I've made in it). Even though I make $250,000 a year, I don't feel comfortable spending when my savings account is 10% of what it was two weeks ago. I know I am not alone in this regard, as I have friends who have lost and cut spending even more. If this is any indication, spending will slow. Thanks for all the great work . (I just wish I would have taken your warning.) OK, once again, if we get any spring off these numbers tonight, use the bounce to get off margin. Get more liquid. Don't be a casualty. I am not a preacher. But this market can't be played well with margin. It simply isn't good enough. Don't be like my friend the boat-seller. Be a boat-buyer. Get off of margin. Now. thestreet.com

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