The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: mishedlo who wrote (5379)	1/17/2004 10:24:49 PM
From: russwinter	Read Replies (2) of 110194

Mania, pure and simple. One of the reasons the market has gotten so bubbly since XMAS, is the quiet period for insiders, and the holiday pause of the underwriting process. The irresponsible speeches by Bernanke and Greenspan encouraging moral hazard speculation on assets in general (not just stocks, but commodities, including food and energy) happened during this vacuum period, and set off short covering, and last gasp margin buying. The insiders will be back supplying stock in droves starting next week, and then the offering market picks up. My gut still says the rally could end within days. Premiums on puts are very small right now. I mentioned the XFL on Friday. The QQQ premiums are little more, but not much so. Perhaps others have identified some more candidates? Purchasing puts at least limits the loss, if the mania manages to continue on.

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