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Strategies & Market Trends : Waiting for the big Kahuna
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To: donald sew who wrote (29108)9/27/1998 10:39:00 AM
From: BubbaFred  Read Replies (2) of 94695
 
Don - My buddies are the same way, 9 of 10. Reasons they give are: With interest rate dropping, there is no way the market can go down; Domestic economy and employment numbers still look good; Stocks are cheap; Market drop and the low were made four weeks ago and that is set in stone; Overseas problems will have minimal impact here. Most remember the '87 crash and this time, they don't want to get left behind, as they were in late '87. Even some buddies who had been bearish and had refrained from buying for the last 8-10 years, are now buying. Again, they don't want to miss the boat, as in '87. All I can say is the few who had missed the boat and consistently been wrong for the last 10 years, are now buying. Strange happening isn't it? On the other hand, the few who had been investing for the last 20-30 years and who had been bearish since January of this year, are in still in cash.
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