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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Lucretius who started this subject4/18/2002 3:45:51 AM
From: KeepItSimple  Read Replies (3) of 436258
 
It just occurred to me- everyone is clown long on everything in the market. The bullish talking heads are more hyped up than i've EVER seen them. Not a single bear is to be found on wall street.

Two days until expiration, and there are about 3-4x as many calls in the money as puts.. Some gigantic call profits if the market just stays right where it is.. But if it drops, all those calls are wiped out and the payout on the miniscule puts would be insignificant.

If the point of the market is to seperate as many people from their money as possible, tomorrow and friday might surprise a lot of folks- including us permabears..

Hell, even *I* believe the market is going straight to the moon right now. All news is good news. All fraud is company specific. If 5 of the 6 tech bellweathers collapse 20 percent in 2 days, it's not mentioned at all on CNBC. Just jetblue's IPO or that Paypal finally made 1 cent before expenses..

Something doesn't feel right..
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