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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: incomep who wrote (71454)	12/4/1999 5:31:00 PM
From: Chuzzlewit	Read Replies (1) \| Respond to of 132070

Incomep, I think you're right. Liquidity is driving this market. I think the money fueling the market is coming from IRAs and 401K plans. I guess that so long as employment remains high stocks will continue to surge, with occasional sharp dips. But I believe that the first palpable hint of an inevitable recession will create a panic in the markets. Or maybe it will occur when mutual fund inflows cease. First, new money will dry up causing the market to decline, and second, companies like AMZN that depend on growing sales and high stock prices (rather than earnings) to maintain their liquidity will go broke. That combination is going to send the market into a tailspin. So yes, everybody seems to know this. We are fools for playing this game, hoping to find greater fools who are not quite so prescient as we who will buy these vastly over-priced securities from us. TTFN, CTC