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Politics : High Tolerance Plasticity
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To: cnyndwllr who wrote (8616)9/25/2001 1:34:52 PM
From: kodiak_bull  Read Replies (1) of 23153
 
Fast Eddy,

I cannot disagree with any of your points. The only one I'll take seriously, though, is: "I am hoping that the cure for a down market is a down market but so far it looks like the down market is the cure for a bubble."

No, a bubble is the cure for a bubble. Sheesh.

As with the VIX, when the VIX is high, it's time to buy. The question is, what is "high" in these circumstances?

I'm quite certain that the cure for a down market is a down market, and while we certainly have gone "down" have we gone "down" far enough yet? WSJ puts the further downside today (in the rag edition, p. C1) for the S&P 500 and the DOW at somewhere between 5% and 44% SOUTH of here.

Personally, I don't like those odds. I like it when you've got a 5% maximum downside, no chance of bankruptcy and a 600% maximum upside. Call me crazy.

Kb
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