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Politics : High Tolerance Plasticity

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To: jim_p who wrote (8228)	9/19/2001 7:09:45 PM
From: kodiak_bull	Read Replies (1) of 23153

I have to cast my vote with Monsieur Le Bum. If you're nimble you can play the rally tomorrow, but I wouldn't expect it to last past noon EST. Today's market action which makes everyone so happy still left the Naz down about 2%, after being down more than 100 points at one moment, I think. IMHO, it can't be a bottom if folks are calling it one. Those who own stock today either 1) own it from before and are desperate to ride it up and out or 2) bought it recently and will sell into the next rally. Next panic selldown might/might not shake out more of the weak hands/panic sellers, but it will probably be propelled by those who bought yesterday and today unloading their stocks on those who "want to believe." A bottom is when there is nobody left to sell, only buyers. It's sort of the opposite of a buyer's strike, but it's because all the sellers have sold and there is nowhere for the stock to go but up (see Econ 101 supply et demand). A good rally tomorrow might be a good time to short. What? I dunno, maybe I will figure that out by tomorrow. Kb

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