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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: AD who wrote (87548)6/27/2002 3:24:19 PM
From: Softechie  Read Replies (2) of 99280
 
I like his words: The market seems to be completely shrugging off the WorldCom (WCOM: sentiment, chart, options) news. Thirty billion dollars worth of debt up in smoke, tacked on to the trillions lost by investors since the market peak, but hey … who's counting? Individual and institutional investors alike just keep coming back for more. That is the problem with the outlandish gains that investors grew to expect based during the bull market of the late 1990s. It turns out that speculation and the magical powers of compounding have become a hard habit to break. Investors anxiously tuning into CNBC to see if the "journalists" will officially declare it the capitulation day will not mark the ultimate market bottom. I suspect the ultimate bottom will be marked by investors, traders, and speculators alike swearing off any type of risk what so ever. In other words, there will be no interest in the stock market. People will react the same way they did in the 1930s by vowing never to invest in the stock market again. That will be the type of sentiment needed for this market to put in its ultimate bottom. How many years or how big of a decline is necessary to bring about this internal reaction is unknown. I hope that I'll be able to take advantage of (and have the clarity to recognize) opportunity when it comes again. Right now, it's not even close.
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