I think we are all feeling like cooked spaghetti. Even if one has no cash in the market, the loss of buy opportunity and the pitiful state of so many of the great companies' earnings, just bums one out.
Bringing this over from realmoney.com:
"Bye bye to my piece of the pie", even if temporary, cooks my spaghetti . . .
" Doug Kass
The Day The NASDAQ Died
3/29/01 11:51 AM ET
Jim, as institutions (somewhat perversely) sell their submerging OTC names (JDSU, JNPR, et al) in order to NOT show their positions at quarter end (never did understand the strategy), I can't help but whistle the following tune, with apologies to Don McLean's "American Pie."
A long, long year ago...
I can still remember how
The NASDAQ used to make me smile.
And I knew if I had my chance,
That I could get one last cash advance,
And add another Tech stock to the pile.
But Alan Greenspan made me shiver,
With every speech that he'd deliver,
Bad news on the Rate front,
Still I'd like to take one more punt.
I cant remember if I cried,
When I heard about the rising CPI,
I lost my fortune AND my bride,
The Day the NASDAQ Died.
So...
Bye bye to my piece of the pie,
Now I'm getting calls for margin,
Cause my equity account's dry.
Its just one year from a new all-time high,
And now we're right back where we were two Julys ago,
Yes, we're right back where we were two Julys ago. " |
