Stockman Scott's Political Debate Porch Message Board

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Politics : Stockman Scott's Political Debate Porch

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To: T L Comiskey who wrote (21696)	7/8/2003 4:52:28 PM
From: lurqer	Read Replies (1) of 89467

Who Put the "Bull" in This Bull Market You Asked? Thanks. I'm currently sticking with my range bound scenario. the pool operation blasted the equity indexes higher in a pure expression of "might makes markets right." Given the current market valuations, no second-half robust economy and a mountain of supply from earlier bag holders, I believe there’s a cap on how high any "pool" can "blast" the market indices. This is analogous to running up an increasingly steep slippery slope – eventually all of your energy is being expended just to maintain your elevation. One little slip, and it’s down. Of course, the “pump” will bring the markets back up to that equilibrium point, above which the “pool” can’t pump. Result, a range bound market. The Japanese, being very diligent, were able to maintain their post initial plunge trading range for eight years. But then the Japanese were not trying to establish a military hegemony at the same time. I doubt any US market trading range will last as long. We’ll see. As usual, JMO lurqer

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