Hi Kevin, I hope I didn't scare people with my remarks and opinion. If I did, I apologize. You see, the purpose of a forum like this is to exchange ideas, opinions, and facts. It serves no purpose to scare anyone because we all know that small investors can not move a stock, only institutions can. Needless to say, they have their own opinion and hardly need or have time to visit these threads.
Having said that, I am entitled to express my opinions, usually accompanied by facts, sometimes less so. The majority of my investment is in longs, I hold few short positions. You got to admit, there are some outrageously overvalued stocks. I only short when I feel very strongly about its overvaluation because of hype, or unfounded rumors related to the stock, or short term frenzy, and sometimes downright manipulation by MMs.
Do I feel a market correction is coming? No, I don't think so. I only said if there is a market correction, overvalued stocks (like YHOO) will fall faster and harder than the average. Personally, I am still bullish on the market for as long as interest rates remain low. From what I know, unemployment is low, inflation is in check, corporate earnings continue to be good (more than 50% of recent earnings reports beat the analysts' estimates), there is no energy crisis, no war that the U.S. is involved in, a balanced political power in Washington, so I see no reason for a market correction provided that interest rates do not rise. But what bothers me a little is that Elaine Gazzarelli (sp?) suddenly became BULLISH and the market has the tendency to do opposite to her calls. :-)
Regards,
Tom |
