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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (7426)	10/11/2000 9:41:34 PM
From: Voltaire	Read Replies (2) \| Respond to of 65232

Like I have said, I respect this individual but am still fascinated by his view that the market operates in a sanctum. The bottom , who cares? sotiris_k1 10/11/00 5:14 pm I hope everyone realizes that the "bottom" has no meaning anymore. Its irrelevant if this stock stops at 20 or 35 or 29 5/16. The damage done to a 20 year old history is of such scale that practically the stock has become a derivative. Would you ever try to pick a bottom on a call option? This is what you have here. The market cap loss and the ramifications of such event for the entire market make any bottom searching irrelevant. There is no point in searching for any bottom unless you exist in a market that can be remotely rational. The purpose of a bottom is to pick upa great long term entry point. The notion of great long term entry point is what is questioned here. You can no long talk about exponential trends and growth going forward unless the market gets in touch with the reality of the RAPE it has engaged in. At this point intel becomes a takeover target. IF this is not the most ridiculous event in the history of the stock market then your participation and mine in it is! Today intel touched prices it had seen in late 1998 for the first time before. Today intel is valued as it was 2 years ago. Today intel is valued as it would be if in the next 2 years it had lost a combined 15-20 bil $ in negative earnings. The day this unbelievably remote incidence of a 55% decline becomes reality before even having seen a single distastrous quarter is the day you know there is no point in investing ever again without some kind of derivative scenario . If this can be permitted to happen then anything is possible and when you open the window to such logic you automatically abandon the very reason to participate in this process... Forget about the bottom. The bottom of this market is 0. This is what it has come down to . A null brothel of criminals and scared animals. I wonder how much of all this has anything to do with preparing an idiot for a president.