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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: AllansAlias who wrote (172380)6/13/2002 6:41:18 AM
From: Earlie  Read Replies (1) of 436258
 
Hi Allan:

Great to hear from you and to learn that you have not been swept out to sea during one of those "Nor-Easters". (g) Also great to note that the "Scourge of the Canadian East Coast" is still knocking the ball out of the park from time to time.

I couldn't agree with you more. "The hope" indeed keeps the majority of the battered and bloody bulls still standing on the arena floor. It worries the heck out of me as I know far too many fine people who are already down more than half in their mutual funds or pension holdings, yet simply refuse to cut their losses. "I can't possibly get out now, I would lose too much,.... I have to wait until we get a good bounce and then I will sell" is typical. That, or "I'm in it for the long haul, so it doesn't matter" (although stated with much less enthusiasm these days than a year ago). As many of our mutual SI cohorts have noted, this is not going to end well.

At this end, the conviction that the bear is going to cart this market back to his den for a relaxed lunch, continues to be reinforced by both the hard data as well as the anecdotal observations. In particular, the fact that Greenspan's eleven rate reductions and manic printing hasn't had any consequential impact on the economy looms large. That, combined with the increasing inability of corporations to service their debts in this profitless environment has me convinced that the Vaderian path provides the fewest mines.

An admonishment to my favourite nephew,.... poke your ugly visage in here more frequently. (g)

Best, Uncle Earlie
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