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Pastimes : All Clowns Must Be Destroyed -- Ignore unavailable to you. Want to Upgrade?

To: fedhead who wrote (36549)	5/30/2000 6:56:00 PM
From: pater tenebrarum	Respond to of 42523

Anindo, it's certainly worth considering as a possible outcome. however, there are many believing in the traditional 'summer rally' concept, and in order to disappoint those as well, what is the market to do? to me the absolutely stunning volatility and swings in sentiment from despondency to euphoria create the impression that the market is working toward a resolution that will be a real jaw-dropper....it's like a ball bouncing down the stairs, with the bounces up and down becoming ever larger, until the stresses become so great as to result in a systemic BK. i can't prove it, but i think this is what we're going to see...a real stress test of the system, where the machinery fails due to the complexities introduced in recent years in the form of highly leveraged bets and derivative based trading strategies as well as internet based trading. just as nobody could foresee the combined effects of program trading and portfolio insurance in '87, i think a similar surprise is lurking in the not-too-distant future today...