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Politics : High Tolerance Plasticity

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To: kodiak_bull who wrote (1526)	3/13/2001 6:39:48 PM
From: ItsAllCyclical	Read Replies (1) of 23153

>> This is not a rhetorical question, but rather a Zen koan. Why is it so appealing to listen to Prudentbears, etc. when the Naz is at 1923 than it was when the Naz was at 3278? << You're absolutely right. I'm very guilty of it myself. However, I remember doing exactly the same thing at Naz 4000 and 3000 after it had fallen 1000, 2000+ pts respectively. I remember people saying that we were pretty close a bottom both times (especially at 3000). I used to think 1500 would probably be the low. Now I think the case can be made for 1000 if we get a global slowdown. If the index were just one stock vs the market and it was down 62% in 12 months, was still overvalued historically, had declining fundamentals would you be so eager to buy? That said I'm bullish near term for a bounce so I stayed long 2/3 of the positions I bought today. I'm just trying to remind myself how low things could go before they become "fairly valued". Buffet said just a few days ago that there are NO bargins out there yet. (Assuming he's talking tech).

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