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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Joan Osland Graffius who wrote (46311)	4/14/2000 6:07:00 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 99985

LOL! indeed the word 'sell' is not part of their vocabulary... i found the Shiller interview most revealing. Insana introduced him by saying that they had re-scheduled his appearance that was originally planned for last week, 'because we didn't want to pour gasoline on the fire in the face of the Nasdaq's weakness'. he in fact admitted publicly that they are nothing more than an irresponsible propaganda machine, a bull market cheer leader that couldn't care less about telling people it might be time to get out. Shiller himself certainly impressed me with his sober assessment of the situation. when confronted with the fact that he called the bubble a bubble at Dow 6,500 already, he brought the analogy with the doctor that tells you about your high blood pressure. it doesn't mean you'll die tomorrow when he tells you about it...he's still right though. he also mentioned that valuations continue to be quite silly, in spite of the dip we had, and that it might still be time for people to get out. that's the most important thing: if you're a long term investor, and you know you're in a bubble, conserve your capital...that's more important than squeezing out the last ten percent. i can only say that the brokers who came out with their insane buy recos over recent weeks are extremely irresponsible shills, and anybody who trusts them is an idiot who can only blame himself.... of course they will attempt to rescue the Titanic - but i think the iceberg has definitely been hit. regards, hb PS: the gold stocks which i recommended so warmly yesterday, were up 7% as a group today...once again proving that they indeed ARE a hedge in market turmoil.