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Pastimes : The Naked Truth - Big Kahuna a Myth

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To: Cynic 2005 who wrote (31280)4/7/1999 6:56:00 PM
From: accountclosed  Read Replies (1) of 86076
 
fleck saw what we were talking about

Stock schizophrenia... Today was an even more schizophrenic day than any other we've seen, and I realize that's saying quite a bit. Let me try to describe it. I've already discussed what happened in software land. At the same time, PC hardware was being driven up for the most of the day. We had reversals in both directions for many stocks multiple times today. The Internet stocks, after having been on fire, getting slam dunked and then rallying back, reversed and closed on their lows. AOL (AOL) was down $11 as an example. ...Stocks that weren't up a bunch were just shredded. We've seen a lot of craziness as we've chronicled the mania during the last three years. I think today's action and the complete disconnect between different groups are as bizarre as anything I have seen. I cannot imagine any sane or sober person coming to the conclusion that this is healthy or a place where people want to have their hard-earned money parked in the name of investment.


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