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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: russwinter who wrote (42217)9/23/2005 8:16:50 PM
From: Mr.Creosote  Read Replies (2) of 110194
 
Russ you are focusing on things that "should" matter while everybody (at least those I know) are using technicals and stops to open long positions at support lines. These are not our grandparents markets. There is too much money (borrowed or not) speculating in our markets. That's what we americans love to do despite what else is happening (wars, Fed tightening, weather disasters).

I agree with you on one point though, there is simply NO FEAR in this market. Actually the fear is to be caught on the sidelines when the big rally comes. Not to mention that the market is viewed by quite a few as cheap with corporations loaded with cash and buying their own shares and traders beginning to look for the end-of-year rally.

A double disaster like this would normally have been visible on the Dow Jones price chart like the 911 attacks are. You can look at chart of the Dow and tell exactly when the twin towers got hit. But you can't tell when these devastating twin hurricanes hit, can you? The market is very orderly and it appears as nothing noteworthy has really happened to the US when looking at price charts. This is viewed as "strength" by our well-educated friends on Wall Street.

I am sure you agree with me that trading so far has been perfectly normal and orderly. As for my friend, he drives to the golf course so yes he does use fuel. But he would also drive if gas was $5/gallon even though he is retired.
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