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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: aldrums who wrote (7240)	3/11/2000 11:38:00 AM
From: Dan Duchardt	Read Replies (3) \| Respond to of 18137

There is nothing new in Wall Street. There can't be because speculation is old as the hills. Whatever happens in the stock market today has happened before and will happen again. -Edwin Lefevre 1923 This one may soon make the list of famous quotes that were proved false. Like Ken Olsen, head of Digital Equipment Corporation, once a premier developer and manufacturer of "small" computers, proclaiming something along the lines of "Nobody will ever need or want a computer on their desktop". Dan

To: aldrums who wrote (7240)	3/11/2000 3:12:00 PM
From: Jon Tara	Read Replies (2) \| Respond to of 18137

Yes, it probably IS a once-in-a-lifetime opportunity. That can still be entirely consistent with your quote: "There is nothing new in Wall Street. There can't be because speculation is old as the hills. Whatever happens in the stock market today has happened before and will happen again. -Edwin Lefevre 1923" What Lefevre probably had most on his mind (the great bull market of the 20's) did indeed recur - but not until the 60's. The the great crash of 1929 (which wiped Mr. Lefevre out) itself recurred (in much muted form) in 1987. In other words, about once in a lifetime. (There is always the exception to the rule, and this is it - there are many people around who experienced the 60's bull market who are now experiencing an even greater one.) So, while I have no doubt that it's all happened before and will all happen again, short of cryogenics, I'm not very likely to see it again myself.