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Pastimes : Home on the range where the buffalo roam

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To: Walkingshadow who wrote (10135)	2/13/2001 7:47:45 PM
From: sea_biscuit	Read Replies (2) of 13572

After the last of the retail sellers has given up the ghost, selling pressure will dry up. Going by my experience, which is anecdotal, the retail investors haven't given up yet. And this is supported by the statistics saying that bullishness is still at or near historic highs. Most of my friends whose stocks have gone down the toilet, have refrained from selling, and say, "I have stopped looking at my stock portfolio!". I say that we will make a solid bottom, when they start looking at their stocks and decide to do something about it! :-) We are in the phase of "anxiety" (covered by a veneer of supposed indifference). When the mask is taken off and the not-looking-at-my-stocks-anymore investors slide into the "capitulation" phase, it will be ugly. Don't be too surprised if you see the Intels, the Ciscos and the Microsofts of the world trading at half off -- from their current prices.

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