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Strategies & Market Trends : Stock Attack II - A Complete Analysis

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To: stockman_scott who wrote (1528)2/28/2001 8:32:33 PM
From: Michael Watkins  Read Replies (2) of 52237
 
Scott
What if almost everyone is trying to become 'smart money'...There is so little conviction that it will take a BIG change in market psychology to turn the Naz around. Greenspeak is still way behind the curve with rate cuts, IMHO....History may show this clearly in a few years...=)

Similar question somewhat, not totally, discussed tounge in cheek on the futures thread:

>> Wonder what would have happened if Greenspan had not upped rates, and then all these teck earnings started coming in like they are now...? <<

COMPX would have tanked from 7,000 instead?

And probably still have dropped to where it is going. So he did folks a big favour!

Despite the carnage I have a hard time feeling much sympathy for most people. People bought unrealistic dreams, assuming nothing bad could happen and *they'd all be able to sell at the top*.

But of course that's not possible.

This decline has less to do with rate increases than it has to do with a mass psychology effect of people coming to their senses. Throw in some bad news and realization that 'this time it isn't different' and here we are.
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