AM I THE ONLY ONE AROUND HERE THAT GIVES A SHIT ABOUT THE RULES ANYMORE!!!!
I don't care if Michael and Slider despise each other. I don't care if Isopatch and JQP start laying for each other with long range sniper equip. (I'm betting on JQP because I don't think iso's broker training had anything on snipering, but maybe iso will set me straight). I don't even care who can piss the farthest into the wind without getting sprayed and smelling funny. I have a whole list of things I don't care about, but then I digress. Sorry.
The point is that taken as a thread we despise tech. There are exceptions, and I include myself in that category, however we cannot forget who we are. In the face of one of the nastiest selloffs in the tech market history, where many retail investors lost a huge proportion of their stock asset value, most of us made money. Yet now, when all of our dire predictions for the fate of those overblown tech stocks appear to be on the verge of proving out, many of us are talking about or actually beginning to (shudder, shudder) BUY TECH. (Don't say "not me" slider, Michael has the posts bookmarked I'm sure.) Is it true that we were really just tech sheep that got left behind the herd while we watched jealously for any opportunity to rejoin the other sheep? Tell me it ain't so. Tell me we're not like those lemmings. Tell me we're horses of a different color. Tell me lies, tell me lies-- oh well, you get my drift.
Here's the facts as I see them. Retail investors are getting flushed out of the tech market. Those stocks have a long way to fall, no matter what the technical indicators say, because the worst fears of smart money are beginning to come true. The economy is starting to feed on itself in an ever increasing downward cycle of negative factors and the fed has no cure because of energy induced stagflation. There is NO GOOD NEWS on the near horizon. Earnings warnings will start again soon and there is nothing to indicate that earnings will improve for most areas of the tech economy. Bounces will get weaker and weaker. The most cautious investors and those who have the mentality to short will prevail. When mutual fund redemptions have started, accelerated and then stopped, a recovery is possible but long term, the key is affordable and available energy.
This is my own opinion. If you think this is wrong, I would like to know why. If you think this is wrong because TA analysis says something else, please tell me how the fundamentals can support your analysis or why they are totally independent. Also, if you think I need sensitivity training, I would like to know your choice for a mentor on this thread. (gg) Ed |
