Tippet; Seldom does the news ever tell the truth about these
matters, some times you find out years latter. I've been saying
the market is manipulated all along, and for the most part it's
as crooked as a snake, or more. Place your bets and take your
chances. The premise the market was founded on ( to raise capital
for new business ,) went out the window years ago.
You can't cure these thieves with a few rules, and then a slap
on the wrist. They passed laws that made their kind of stealing
legal. While you hear of floor traders getting busted for front
running orders, ( that's just because if your a floor trader ,
the brokers don't want you doing what they do. )
Just about every broker going works out of a short position,
and when you sell short he is closing one of his.
In short the market is sick, and run by sickies..if you want to
play and you may as well, just be aware of it.
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As far as being over valued, compared to what interest rates ?
The tulip stocks are no doubt over valued, and no doubt we have
a Mo Mo market, I'v repeatedly explained how that happens.
But there are many many stocks with trailing p/es that even if
they don't grow an ounce should be bargains a scan for stocks
with P/Es lower than 20, you'll find a ton of them. I can show
you plenty with P/Es of 10..and you would have to take another
50% off their earnings to say they are not good buys.
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This time unlike 29, if the market crashes people are going to
know it was not economics..just out and out thieves.
Jim
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