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Politics : Ask Michael Burke
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To: Mike M2 who wrote (26208)2/27/1998 12:57:00 PM
From: kahunabear  Read Replies (2) of 132070
 
To All,

The thing that amazes me is how virtually no one I talk to, with the exception of the very rational independent thinkers on this thread, think there is even a remote possibility of a market crash. Yet, this type of market has always lead to one in the past. Seems logical to me ?

"New Era" seems to mean that we will never suffer any hard times again and no price is too high for stock ownership. Buying this market is like buying a car that the dealer has promised is maintenance free and runs on air. It is mass hysteria. The scary part is that there are no limits to it. I think we have gone way past ever having a normal cycle and fear the next downturn will be a doozy. The law inertia has not been repealed! The rubber band is just being pulled incredibly tight. Its not unprecendented. Japan is is the most recent example. Its like horoscopes or pro wrestling. People want to believe and what makes it even more believable is that they are making money. At least on paper. I don't think there will be a slow grinding correction. I think some event will snap people out of there daze and the drop will be swift and strong. I think we will see 500-1000 point down days. What will the event be ? Who knows ? SEA and Japan problems? Bad earnings ? A war ? Eventually, there will be something that makes everyone want to cash in there chips at once.

WS
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