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

To: Crimson Ghost who wrote (49841)	5/8/2000 7:36:00 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 99985

George, that sums it up neatly...we will see more such cautionary articles about the glorified casino in the future i suspect. it remains to be said that for 'serious' (not necessarily frown-wearing) long term investors, the mania has become a real danger. most recently that has changed somewhat, but for a time, identifying 'cheap' stocks has at best resulted in dead money bets. so what do you do if the choice is between 'dead money' and paying outrageous prices to achieve discernible returns? btw, it is quite true imo that in spite of the sudden chic the downturn has acquired as a 'necessity' that has removed 'excess', not much excess has in fact been removed. that's the fallacy of the 'top-down' analysis mentioned in the article. regards, hb