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Politics : High Tolerance Plasticity
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To: cnyndwllr who wrote (7405)9/5/2001 1:45:40 PM
From: MetalTrader  Read Replies (2) of 23153
 
sheesh,

today looks SO bad I feel sick even being in cash. Unlike some I don't enjoy watching people getting desperately buried.

I hear people saying there is no complacency without understanding the concept. Because they feel terrible they think the market is not "complacent". Wanting to throw up does NOT mean you aren't economically complacent. The logic of complacency meaning "owning stock" has eluded many investors. If you own it, you are complacent.

Economics being the rational science means that only someone bullish would own stock. It's a little circular logic, but judging by the market direction I would say there are still more sellers than buyers <g>. More owners than wannabe owners. In other words more bulls than bears. The sentiment indicators reflects it and the market confirms it. I have a feeling the sentiment indicator may take a big tumble this week (I hope) When the remaining owners of Intel, Cisco, etc don't really CARE about every utterance of CNBC there won't be the overhead supply of stock just waiting for some reason or necessity to sell. All the selling is done in anticipation of lower prices yet to come, rational behaviour means they won't be potential sellers anymore..they become potential buyers. And THAT's what I want, buyers. Folks with money and no stock

Give me 100% bearish sentiment and we'll buy the world.

Anecdotally I see evidence of more bears, but I want to see the data.

mt
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