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Strategies & Market Trends : The Millennium Crash
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To: Barbara Barry who wrote (1671)11/23/1997 3:48:00 AM
From: Arik T.G.  Read Replies (1) of 5676
 
Barbara,

My scenario played out only till 15:15.
"Almost" doesn't count.
Odds for the Millenium Crash are getting better all the time.
September was the last chance the public had to regain rational thinking in the market, by refraining from buying the dip.
That didn't happen.
The SPX bounced off 900 for the 2nd time the day after labor day, and the market was up 3% that day. New high on the SPX was achieved a month later.
Then there was Intel's bad quarter and the SOX broke down from the trading range. The EAsia turmoil gave another external push to an already correcting market, and brought the mini crash.
Now, a month later, both S&P 100 and 500 are challenging their all times high only 2% away.
News from the other side of the pacific don't get better.
Looks to me that the investing public has decided to disregard bad news, a sign of a tulip mania. Any downturn ignited by bad news is looked upon as an opportunity to buy the dip.
It'll end in tears.

ATG
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