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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: byhiselo who wrote (39549)11/21/2000 6:24:05 AM
From: pater tenebrarum  Read Replies (2) of 436258
 
such a spike would be great...it'd induce some fear into the proceedings. however, i see the 'every dip must be bought' crowd is jacking the NAZ futures higher pre-open again, which i take as another short term negative.
certainly if the spike down you envision were to take place, i'd be sorely tempted to go long with 17 o's. looooooooooong.
i keep buying the odd stock here and there anyway, on the hopefully not erroneous assumption that some are looking cheap ceteris paribus. that would of course change once the economy slips into recession...again, the Nikkei template helps: after the spike low in late '90, the market actually rallied right into the onset of the recession. once it became clear to everybody that a recession was well underway already, the market gave up this last-ditch multi-month rally and plunged to fresh lows. the very same lows it fell below last night again - exactly 10 years later.
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