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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: bill meehan who wrote (41569)11/28/2000 5:22:18 PM
From: pater tenebrarum  Read Replies (1) of 436258
 
Hi Bill, no problem...btw, since our last conversation the commercial net short in the spoos has reached yet another record high, 79k contracts.

since you're mentioning the issue of rationales, i think most people are still caught up in the bull market way of thinking, i.e. no rationale is needed to argue for higher stock prices, except that we're X% off the highs.

the media's treatment of all this is nothing short of outrageous. people cavalierly get away with utterly disastrous financial advice...if you're a bear and you're wrong, they'll never stop needling you about it. but a bull like e.g. Al Goldman can recommend internet stocks in March, and keep recommending tech stocks week after week, without ever being called on it. anybody who followed that dude's advice this year could just as well have hung out on the porch and followed the angels. -g-

i like picking on Goldman (he's the example i keep bringing up, although what applies to him applies to hosts of others too of course)because he's obviously an old timer. he should have KNOWN. many so-called 'analysts' or 'strategists' strike me as either intellectually dishonest, or just plain dumb, no better guessers than people with zero understanding of the markets.

there are of course notable exceptions, of whom we don't see enough on TV. i commend you btw. for your fortrightness in telling it as you see it...that's truly rare.
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