Market Gems-Trading Strong Earnings Growth and Momentum Message Board

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Strategies & Market Trends : Market Gems-Trading Strong Earnings Growth and Momentum

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To: Aj-Ruk who wrote (5465)	2/27/2001 10:53:22 PM
From: Dave Gore	Read Replies (2) of 6445

AJ, You are right - this has to end, but that is not enough apparently to persuade people (especially those Fund Mgrs.) with lots of cash to go long and hold, or buy the dips, yet. They've been burned calling the bottom before. The shock that the first two Rate cuts did not calm the Markets now has everyone wondering where the bottom is. We even have historical evidence that after the third Rate cut (which we know is coming) the market historically rallies. Still the selling swamps the buying. Even when we were in bona fide recessions, the Markets rallied. Why do we think they won't this time? Does it really matter whether AG cuts this week or on the 20th in the bigger scope of things? Of course not! Some tech companies warn that they will "only" grow by 15-30% this year, or 80% instead of the expected 100% (as opposed to that 5% steel company's growth) and everyone overreacts to the tech stocks. Why?. Somehow, we have turned into a society where we expect instant success and cannot tolerate losses or failure. It's partly ego and bragging rights, and partly more people quitting their day job and being under pressure to earn a living in the Market. Patience is not a virtue anymore. It is even frowned on now to hand someone a resume that shows that you were at the same job for more than 2-3 years. It tells them you are not "trying to improve yourself" or that "you obviously don't like change". It all really makes little sense and that is why the Market frustrates a logical and somewhat reasonable person like myself. I can usually tolerate it and just follow the tape, but I hate seeing so many investors lose so much money. Today caused me to vent, partly because I don't like the type of society we have become, I think. Also, partly because the Market becomes doubly hard to predict when logic and reason goes out the window, where it has been for about 3 years, at least. Anybody know a good joke? <g>

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