Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Crystal ball who wrote (1736)	1/12/2001 8:51:12 AM
From: Gofer	Read Replies (1) of 74559

Two quotes from Fleckenstein's column of last night pretty much sum up yesterday's action: At the risk of obsolescing myself tomorrow, I vote this as the single most insane day of the last five years in terms of price action versus the fundamentals. For those folks who are overextended, you are getting a once-in-a-lifetime opportunity, for however long this rally lasts, to get your financial house in order. As a died-in-the-wool fundamentalist, I can only shake my head at yesterday's action. The talking heads were out in force hyping the "bargains". It's almost like the market is preparing for the end of the recession before preparing for the recession. Irrational exhuberance is alive and well. Oh well, those puts I've had my eye on for a while are now on sale! Gofer it! P.S. Do you want the Fürstenberg via e-mail or PM? Das schmeckt nicht. <g>

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