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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host
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To: wooden ships who wrote (7103)8/23/1998 11:30:00 PM
From: JF Quinnelly  Read Replies (1) of 42834
 
We have seen what sentiment is like at a bottom. What do you suppose public sentiment will be like at the top? Complacency? Enthusiasm? A few days ago, standing in line at the grocery, I heard a twenty-something explaining to his friend the financial gymnastics he was using to insure that he could keep as much as possible invested. Sounded like credit card balances staying high while any free cash was channelled into the market. He's going to feel some pressure if his account starts going down while his debt remains the same. I remember people pyramiding houses in California. They'd ride the equity up and use it to buy another, and another. It worked as long as prices went up.
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