Rande,
Your comments earlier in the day, suggesting we as a people should think of those less fortunate than us is right on target. Markets will swoon, plunge, rachet, soar, and so on and so on. The bottom line is that we as Americans should never lose sight of what the bottom line is. At the risk of sounding religious on a stockmarket message board, let me say that a priest once said to me that " God is a sucker for compassion." I haven't forgotten that simple message in the 20 years since it was made.
With respect to our markets, more specifically technology stocks: Never have I been more convinced that the powers that be are attempting to control mass sentiment. From my perspective, there are 2 variables that control where stock prices go: How much more can this thing go up and how much more can this thing go down? We are down. Down, down. Very similar to when we were up,way up.
When "the powers that be" smell that the individual investors have given up, proclaiming CNBC or Florida have finally wrecked this market beyond repair, we will rise.
One finally thought: Lest anyone is in doubt, the United States of America is characterized by 2 things:We don't quit and we don't forget those less fortunate than us. It is because we do not quit that we are able think about those that are less fortunate. |
