I am not sure about that "finest hour" but it pays for the screw up late last year, when the turnips were pretty sure that the December downdraft will be quite severe, it was barely a bump. I Really think that the April 2000 warning (#reply-13483082 ) of the coming major bear market (even though I had only 1900 as a target then for the Naz, and we got much lower), after we rally from late May to a top in the summer, was a much better call, the general opinion at that time was still quite bullish. Even last January 2001 call for the February 2001 massacre was a better call on the turnips' part, it came against the generally accepted wisdom "Don't fight the feds", just as the Fed's were starting a massive reversal in their policy. Right now, there are plenty of bears out there, and the call is not so contradictory to the general opinion (quite a worry for the turnips, they don't like too much company <g>). One of these days, we are going to have a massive blow up with all that "impatient" liquidity parked in MZM, but I think we have a little time before that liquidity is sent to "money heaven" (ng).
Zeev |
