Hi NYCB,
I arrived in Beijing from Yichang. I cannot dawdle on the net very long at these outrageous hotel telecom charge rates.
<<bottomed>>? A bear taunt if there ever was one.
I think the whole sordid chapter of decline just got started. We just finished the prologue. Some of us will think it safe to nibble at the edges. It doesn’t matter what we buy now, we will be quickly disappointed that it does go up, but down 20% the next time we look. Some of us will then average down some more.
First Law Of Laboratory Work
Hot glass looks exactly the same as cold glass.
And the same 20% drop will happen again. Some of us will then be afraid to average down again. Some of us will run out of cash. Others patience. Still others hope.
The tension will then be at the peak, the fear most, the regret maximum, and the sorrow worst. Anticipation worn out, expectation dashed, and eventually folks will forget about watching the market, CNBC, brokers reports, and Barron’s will cease to be the eagerly awaited weekend read. Life will revert to a normal pace, and evenings will again be spent on games, meals, and entertainment. The postings on these threads will go down to 10% of the current rate.
I may change my outlook in August or October. I do not see any reason to change my mind now. No reason to, to hurry for, and no rush to bet.
Just my experience of crisis past speaking to me.
Chugs, Jay |
