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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Gersh Avery who wrote (24084)	6/3/2000 4:03:00 PM
From: Lee Lichterman III	Read Replies (3) \| Respond to of 42787

No, I missed the selloff. I think I figured out that the bias was up for Monday AM GLOBEX triggers. Besides, J6P is going to panic buy Monday AM anyway when they see that the all clear has been given. OJ - You MUST be kidding. The banks are writing bad debt every minute. 2nd and 3rd Mortgages on houses that are grossly over valued and backed by stock portfolios full of nothing but fluff. Credit cards are being issued to dogs, cats, goldfish, college students and welfare cases. I get 10 applications a day and they are all 0% for 6 months, 3-6% for a year etc when Fed rate is over that amount. How is that making them money. The financial markets are full of worthless derivitives and the failure of one banks will drag down 10 with it in a spiralling domino affect that will reek havoc across the world. Yes they are too big to allow failure but if this goes on, they will become too big to bail out soon if they are not already there. Then what? Go to the Fed site and look at the chart of debt. Who can pay that to save them? We need a reality check now, not later or it WILL fail in a way too big to save. You say we learned our lesson, yeah right. That is why AG warns in every speech he makes about the lousy debt being issued and how it needs to stop and everyday I have those pre-approved offers in my box and some of them are for my 2 year old just because they got his name off his IRA account. One look at credit spreads shows that we are far from safety and no one has learned anything yet. Like I said, we NEED a crash. The money needs to go back to people that use brains, not rationalization. I don't know when it will hapen but it will someday. The sooner it is, the less damage that will be done. The later, the uglier it will be. I really really have to get outside now. It is getting too hot to mow and do my "honey do" list already. Will check back in later. Good Luck, Lee