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Strategies & Market Trends : Tech Stock Options

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To: Patrick Slevin who wrote (48981)8/1/1998 7:38:00 PM
From: Lucretius  Read Replies (2) of 58727
 
I don't think this thread is that bullish, more like "opportunistic"

I just thought that guy's post was funny. It made me laugh; that's all. I think he's right though, the majority of investors think the mkt only goes one way... up. They can't even comprehend a drop of the magnitude I think we're going to see over the next few months.

From what I've read of major tops (afterall we haven't see one since the early 70's) Sentiment slowly turns, and fear broods underneath the surface. Remember in '29 the Fed warned of overvaluation and there were great fears that the mkt was "too high." At the top, sentiment is highly bullish. However, once the decline begins it needs an ever increasing supply of bears or there are no sellers. The rabid bulls are then caught w/ their pants down and all hell breaks loose.

-Lucretius
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