To: Defrocked who wrote (68679 ) 10/14/1999 6:03:00 PM From: BGR Respond to of 86076
Defrocked, I hope that your day in the market was good today. Since you were obviously very upset yesterday, I decided that I will give you some cool off time before responding. While in general I ignore ramblings of the sort that you posted, I think that your repeated attempts to get some attention from me via childish attacks deserves to be acknowledged. I will attempt to set the matters straight here. I understand that trading (like any other activity which doesn't produce anything and hence is a zero sum game) is a hard way to make a living and taxes the practitioners patience. So, let me make it clear that I am not upset at you for taking out your frustrations at me. First, I apologize for not being able to give the due respect to your Sh&tlist (with a capital S, no less) that you in your delusion of self-importance feel it deserves. The same goes for your verdict that I should refrain from posting in the Myth thread. Sorry dude, but no can do. Next, the picture of global doom for the equities market that IYO was going to accompany the first rate hike by the Fed never materialized. In fact, the markets rallied. I do acknowledge that I did laugh a bit at you when that happened. I should not have, as you probably had bets placed on your beliefs and were hurting from monetary losses. So, I apologize for making light of the situation that your market predictions were completely erroneous. As for INTC, I honestly believe that you are out of touch with technology. Today's SUNW results are way for important for the future technology market than yesterday's INTC results. Think servers, not desktop. However, if a less than 2% drop in the DOW means something to you, so be it. It doesn't to me, but then I have no short term pressures to perform. As for rationality, when the yields dropped to less than 6% a few weeks back, did that mean that inflation expectations changed dramatically? Short term, markets fluctuate. Right now, more people are concerned about inflationary tendencies than there were three weeks back. That short term flip flop on part of professional investors busy underperforming the market means very little as to whether there is inflation or not. Same for gold, which is primarily going up because of a short sqeeze. Don't read too much into it. If the IMF and the BOE did not stop because of political pressures, regardless of whether or not there was inflation, gold would have continued to drop. Letting liquidity crises shape one's notion of the economy is a folly, IMHO. I hope that covers it all. -BGR.