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Strategies & Market Trends : Angels of Alchemy

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To: Lazarus_Long who wrote (23803)	12/21/2000 11:50:53 AM
From: wannaBrich	Read Replies (1) of 24256

"And the Fed isn't so concerned about investors. They are one of many economic groups that have to be considered. The Fed considers that it's primary responsibility is to keep inflation at a low level and at the same time to keep the economy out of recession." That is exactly what I am saying. He should not have singled out market's irrational exuberance. For example, if I buy a CD player for $500 when it costs only $100, is he attacking the buyers and sellers of CD player for such an out rageous price? My point is, stock price does not have to be determined by some pre-conceived mathematical formulae only. There is a factor called human perception (or trader perception) where some trader buys a stock for $100 when he/she thinks it going to be $110 in the next few minutes, days, months what ever. Just because "things were done that way for ages", they don't have to be done like that for ever. The market has always been up in an election year in the past. How about this year? Only once in 1888 or so, one candidate won popular vote and the other the Electoral College vote.

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