Well Bill putting it that way re: millions of peoples savings 401K's etc, sure You & I or nobody, wants to see a major crash!!!
But Bill, It will take something more than an Asian Currency crsis to do it...
Alan Greenspan will not let the markets collapse... In 87 things went haywire, it won't happen now!!! And if the market tanks 1000pts in 1 day or 2 or 3 it will be orderly, without panic...
Look it could happen, hey thats why i'm always fearful, but will it??? and will it happen NOW!!! NO!!! Interest rates, Global Economies, OUR economic outlook, is just to powerful to precipitate a major 40-50% decline...
Besides there is so much $$$$$ pouring into funds that it has almost a built in floor at some point in this crash...Buyers will appear no matter how far things go down...
Now on the other hand... Interest rates are going up!!!, with Corp profits going down!!!! Now thats BIG TROUBLE!!!! I just do not see this!!! Not now, and certainly not in the near term...
Obviuosly things DO change....When, how, where, your guess is as good as mine, my friend...But in all honesty, i do not worry about NOISE, day to day fluctuations in the market...100 points up or down means ZERO, absolutely NOTHING!!! More Noise...Then theres the upgrades and downgrades and CNBC, and Newspapers, and opinions, and magazines, and talk shows, etc etc etc...It can boggle my already smog filled mind<g>..
Bill i've learned to ignore all this junk... 2 facts will make me do something drastic...AG raises rates, even 25 basis points and I'll sell everything and buy OEX puts PERIOD!!! Or over time we see an erosion of corp profits because of a slowing economy...I think neither is apparent at this moment in time...
Can we go lower from here because of valuations, sure...7200 or the DOWS 200 day MVA wouldn't surprise me one bit!!! Not a big deal Bill, 10% or so corrections are real, and do happen... Will it do technical damage to the market NO!!! I would buy that dip with everything i have available for the long term outlook of this country and its Fabulous Companys...
People have become millionaires just by, buying high quality stocks and NEVER selling them... Buy & hold, don't trade and become wealthy...I think it's that simple...IN fact add to your positions each and every time your wonderful stocks get beaten up...
Hey i've made more money in the last 2 years than I ever made in my entire lifetime...I bet many many people can say that, from all walks of life...White collar and blue collar alike...
If your not invested for the long haul, you will not suceed in the goals of getting rich... Daytrading and option playing are for the nimble..I'm trying to build for the long haul future..
Geez i'm babbling along here huh??
Anyway i wish all of us good luck<GG>> |
