WestPacific, careful believing your own hype. You've been running with the bears so long, it appears that you are believing the hype they pump. . . . having us believe that the only stocks having any value are Fannie Mae, Ford and Budweiser. I happen to disagree wholeheartedly.
And when the truth begins to sound like hype, you really have to question your influences. Looking over your profile, Member 4261040. . . I see your most frequent hang out is a board about the Coming Economic Financial Meltdown or something like that. You must know Howard Ruff. He has made a career of telling everyone to FEAR a global economic collapse. I read his book in 1977, when he claimed we would have an economic meltdown within a few years, because the tech markets had risen so far so fast. He cited the Nasdaq. . . .and like you, valuations and a "sea of liquidity". Well, that was 25 years ago.
Meanwhile, while he and his readers awaited economic collapse, we had the biggest economic boomtime and strongest stock market in U.S. history. Now if he says we are "closer than ever before" . . . so what? He was wrong. The U.S. economy can continue to expand IF productivity continues to increase. And Alan Greenspan admits frequently that productivity has been the most impressive part about our economy. And as long as it grows at the rate it has, we are in no fear of inflation.
Thus no Hyper-inflation. . . . . and in my opinion, no sudden market collapse which leads us instantly into a depression. I had an uncle that played piano for a silent picture theatre and did masonry during the depression. He said he was one of the lucky ones, because he had 2 jobs. His whole life, he distrusted banks. . . kept money in mattresses. . . could sqeeze blood from a nickle. . .and began telling me when I was a baby that I needed to prepare for the coming depression. It was coming soon and we needed to be ready. He lived a long life with his beliefs. He told me never to trust the banks [good advice]. And to save every cent that I can, because that would help me the most when we entered the next great depression.
Hypothetically:
Should we enter another great depression, I don't believe that it will matter whether you have saved a million, or owe a million. It will ALL be worthless. I personally believe that a world leader will ask every person on the planet to report to a World bank, where they will receive an equal credit. . . placing every person on the planet at the same level. And this would mark the end of freedom as we know it. So if you would like to share doomsday stories. . . . well. . . my scenarios might be the most dreaded you have ever heard.
But you have to ask yourself this question. . . . "how do I live my life until this happens?"
I choose to believe that it is still a ways off. . . and that life deserves to be lived in the meanwhile. Tell your child that they have no hope for the future and they will not make it to see for themselves. Suicide comes easy to teens that fear the future and figure "what's the sense of trying"? As parents, we do them a GREAT disservice by painting them such a gloomy picture. Instead, tell them that they will have challenges that we didn't have. . . and they will also have opportunities that we didn't have. This way they will continue moving forward with curious hope.
You wrote: "A one day event will wipe all longs out. Wall Street owns the FED and this will end soon."
This is what you are betting on to happen? That is sad indeed. And if you believe that, then I can understand why you would attack me for continuing on with discussing big gainers. But do you really believe that I should turn and talk only of how I "slammed this POS flying pig back into the mud where it belongs"? Sorry, it just isn't me. I am simply too optimistic for that.
Now the post of mine that you linked, was clearly addressed to swing-traders. . . Swing-traders: Watch downward momentum increase suddenly when Cisco breaks into the red.
. . . so I am not sure which upsets you more about me. . . that I am not a part of the gloom and doom society . . . or that I am right back up on the saddle, directing successful trades.
We know that there are risks. I am not sweeping them under the carpet. If you think I am, then you haven't read all my posts over the last year. . . and you simply misunderstand me.
WestPacific, I wish you well. But more than that, I wish you hope.
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