Gidday George, thanks for the much better post than many of the ones which wanted to see you off the parking lot! It got a grin out of me [as did the "why bother, it must be a fake"]. I'm pleased to see you were proved right. A very good friend has pointed out that this little stream of consciousness gets a bit arrogant. Several people never post, but took the trouble to contaminate the thread by joining in the GG attack without offering anything of value.
I disagree with your what goes up must come down theory and wrote a screed back when you were being ordered out. I think it was ignored despite the brilliance of the analysis.
So, to those rude people who were way more obnoxious than my very good pal GG, try to be a bit more pleasant, or I'll set the parking lot security dogs on you.
Now, we must admit it's fun to see Q! down to $124 again. I thought the oil price rise would cause a swoon, but not so soon. But then again, markets react pretty quickly these days. I was shopping for a house and Gulfstream yesterday, but the top bid has just been reduced so the property market in New Zealand just took a hit.
About the P:E < 10 back in the early 1970s, yes, I remember that. Don't forget, the measuring stick was of a fixed length then. It was precisely $35 long, which was exactly the weight of an ounce of gold. Sure, the length was adjusted sometimes before that, shrinking the measuring stick, but since then, money became just a figment of Alan Green$pan's and the Fed's imagination. It hit a peak of $800 an ounce, or thereabouts, after the 1979 oil Big Dipper ride reached a high point. Since then, the $$ has bounced around, but constantly being shrunk, but since the measuring stick, a basket of goods and services, was also shrinking really fast due to The New Paradigm, the money could be printed in vast quantities and prices STILL didn't go up.
So, all those who sold today, what are you going to do with your money? Leave it in the bank for some derisory interest rate? Or go back to the stock market? Don't forget, there will be another, brand new, trillion sized bunch of newly minted SuperDollars coming at you, diluting you. Interest rates won't be going up.
It'll take a bit of sorting out, maybe a swoon on the Dow, maybe down to 7000 again just to add to the excitement. The internet stocks might get a spectacular pasting, but Q! should just sag down to a sold P:E and come out as one of the solid stocks with a future. Alan Green$pan will stabilize things at a 'more reasonable' Dow.
All great fun.
Another BIG volume day on the Q! board - 6 million or so shares bought.
Mqurice
Dow 16,000 Feb 2002
[Did anyone notice the 6 made it across to 10,666 intraday today?]
Q! 200/2/2000 |
