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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 671.930.0%Nov 14 4:00 PM EST
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To: James F. Hopkins who wrote (14449)5/20/1999 9:35:00 AM
From: StockOperator  Read Replies (1) of 99985
 
Jim,

I could not disagree with anything you said. As I said yesterday the scale of excess is definitely being tilted towards the dangerous side. However, I believe ours is a world where market volatility and the almost instantaneous accumulation (and LOSS) of wealth is here to stay, and if anything should greatly increase as the avgs. go higher and higher. Think about it most people no longer get excited about a 50 pt advance in the DOW. Something that was a very big deal not too many years ago. Because of that I do agree with you that the next correction in the market will surely catch many people off guard and because of this increased volatility, I think it's a definite possibility that many could lose all of their gains in a small fraction of the time that it took to make them. The timeframe could be like a "blink of an eye" for wallstreet. What happened in 87 could indeed happen and most likely will happen again some time in our future. Which tells me that the one thing that we can count on the most when investing in the markets is investor's psychology. It is the one thing that will remain constant, regardless of where the market's go from here.

Regards,

SO
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