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To: Sultan who wrote (71807)10/26/1999 1:32:00 PM
From: Cynic 2005  Read Replies (1) | Respond to of 86076
 
<<OK so are you still a bear and expecting the markets to tank big time or do you think just the internuts will tank..>>

I am still a bear and you don't really want to know, much less follow, my opinion on the market direction! -g- Since you asked, it seems likely that the likes of me will be silenced for good before the market really craters. Then again, I am one tough nut to crack.

Internuts are operating on an elevated base. It is hard to judge the emotional and psychological backdrop of the people who are buying them. Those who buy them seem to have an elevated level of capital to play with. i.e. if you are a mo-mo player and you were worth 100k last year at about this time. And, now if you are worth 300k, you wouldn't mind playing stocks that are three times more expensive than last year.

So, it seems likely that the game will end only when there is no one left to buy - the proverbial "sell to whom" scenario. This will be preceded by complete washout of the bears and then a total destruction of the speculators. Those with better money management skills will only survive. That is how it has been and no reason to thing this time it will be different.