To: westpacific who wrote (95735 ) 4/12/2000 5:01:00 PM From: If only I'd held Respond to
I am cool with 2900 as well. It will not be a straight down drop of course. My initial target was 3800, but as we all know, things always go a little further than they are supposed to in this market. However, now that we are below 3800, and I look around the the current valuations of things, I see there is still much room for downside. I guess the question is, will the money just plain come out or will it be shifted. To tell the truth, I still don't see too many compelling plays out there. I haven't torn my hair out doing screenings, but I still see a lot of overinflated junk out there. I see a lot of stocks that are still much higher than I remeber initially paying for them back in.....hell....December. On top of that.....we have all this new garbage that has been dumped on the market in the past 2 years.....you know, we could go to 2000 as far as I am concerned. Look how many people were calling this market a speculative bubble when the Dow was at 8500, and the Nas was below 2k. Uh, that wasn't long ago folks. I was afraid of the market back then myself. Indexes don't run up 80% in a year folks. That's not supposed to happen. I beleive you all are either witnessing the blowout end of the great bull market of the 20th century, OR, the volatility is just becoming incredibly extreme as the market climbs higher. Personally, I stand by my beleif that their is not enough money to justify this market and it's valuation. If I am right, then the party is over for a little while. We are now in new territory, where valuation is very important. Speculation is out, with some exception. The amount of speculating one should do should be based on current valuation methods. Those need to be established again.
