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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: The Freep who wrote (31493)2/20/2002 8:04:39 PM
From: LTK007  Read Replies (1) of 99280
 
i keep saying,no one listens:)--watch the VIX RSI as that washes out the "was it 26 or was it 37?" Regards the complacency because portfolio looks better because of panic selling.Barton Biggs has consistently thrown out a figure that states over 50% of investors just watched their portfolios dissolve and never sold.He states,in his opinion,until they get flushed out market can't stabilize and we will not have achieved it's bottom.
Looking at Trailing P/E graph of SPX500 from 1991 to now,mindblowing.We make 1996 look like the depth of a depression market. P/E wise, we are at alltime highs for wild optimism and floor jumping irrational exuberance.
In short, extreme complacency OR extreme denial.
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