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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Jacob Snyder who wrote (26394)	9/20/1999 4:07:00 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 99985

Jacob, your reasoning is basically correct...and based on the same reasoning i have bought puts on the NDX as well. what could be the flaw in this reasoning? only one thing imo: we are in the biggest investment mania of all time. historic precedent argues for speculative bubbles to eventually produce a blow-off top, and we haven't yet had an ideal blow-off with broad participation. i know all the arguments for lower prices very well, and they represent what's almost overwhelming evidence. nevertheless i'd expect the current buying panic in a narrow group of technology stocks to continue for a while...the turn, when it comes will be swift, so i suppose if you buy enough time, you should do well. regards, hb