Hi John, <<… holding on to flimsy stuff while all around you the "more robust" stuff is tanking?>>
Maurice may have been first fooled, and then upon jolting by the thread, gotten upset by this devious string of propaganda disseminated amongst an equity cult population that shows not one bit of survivalist’s anticipatory instinct, intend on committing financial suicide [EDIT: please feel free to complete the historically valuable list, to be passed down the generations thus, ‘see Junior, this is what your foolish dad did when …’]:
(a) Stocks always go up in the long term
(b) Long term buy and hold rewards
(c) Stock should not have risk premium
(d) Page views are better than revenue
(e) In a recession, technology shares will not suffer, (presumably because people always need a new PC whereas they do not really need to eat)
(f) Bull market corrections can be quite violent at times, but the bull is intact
(g) SnP500 will hit 1,500
(h) Market up in first week of January indicates the direction for the rest of year
(i) Market up in January indicates same
(j) Market up for three days indicates a bottom
(k) stock market always up following rate cut
(l) Equity is undervalued by 15%
(m) The economy is fine
(n) Cash is not an acceptable asset class
(o) The stock market has simply diverged and detached from the economy (as opposed to the stock market is anticipating an economic depression)
(p) The bottom is in, because mutual fund outflows have started
(q) The economic recession is mild [EDIT: because people are eating and driving their home]
(r) The world will not end [EDIT: however, no guarantees for many of its financially suicidal numb-nuts]
The above constitute a subset of the mind-numbing propaganda that has helped to separate people from their hard earned money and easy undeserved speculative gains.
BTW, that was an impressive struggle last night, what with the DJIA up, and Dollar up, before and at opening. The primary trend of down is probably not broken, because we are not that lucky.
At some point the big economies will roll over, as the stock markets are predicting, followed by market panic.
Chugs, Jay |
