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To: AllansAlias who wrote (11802)8/17/2000 1:44:58 PM
From: pater tenebrarum  Respond to of 436258
 
there's only one thing one must always keep in mind: manias can end suddenly, with little warning, for the most surprising reasons.

i remember e.g. that in '87, rates had been rising all year - no-one paid any attention. it seemed after a while that rates couldn't hurt the market anymore. that assumption was a big mistake...and like the recent break-out in the NYA, we had tech breaking out a mere two days before everything went down the crapper.

an analogy today would be the things the market is ostensibly not worrying about at the moment: oil prices, inverted yield curve, trade deficit...

i'm just pointing out, that something could strike out of the blue. one has to keep a wary eye on the exit...