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

To: Ex-INTCfan who wrote (26838)	12/21/2000 9:30:27 PM
From: abstract	Read Replies (1) \| Respond to of 65232

<I think we are going through a natural chain of events here.> I think what you are saying is totally accurate, though not quite "natural." I think the FOMC pumped so much money into the economy to protect us against Y2K that the tech stocks in particular and the NAZ in general overamped. There is no way they could allow the exuberance they created to continue - they had to rectify the problem they created - thus the tightening. Maybe they tightened too much - and maybe they hit it just right. Of course all the money made successful companies that didn't "deserve" to benefit. And now those same companies are having their comeuppance. For a long time - oh maybe until two days ago - I was not seeing the BIG picture - then all of a sudden wstera_02's charts hit me upside the head. I am not convinced that there is a New Economy. Perhaps the Old Economy has some new players. Some of those new players are damned good companies and some just benefited from the artificial abundance of free money. Now that the free money has been removed from the "table" those companies are suffering. Well, duh - they sure didn't earn it the old-fashioned way. For months I was walking around like a "new millionaire." I almost built a new house. I almost bought a fancy schmantsy car. I almost increased the physical size of my business. Fortunately for me I didn't, because I would have borrowed to do so because I would not have wanted to have taken money out of the market. (At least I got a nifty digital camera I paid cash for.) I have just about as much money as I did 18 months ago, before I started believing that I was a prescient investor. I wasn't prescient, just stupid enough to believe a myth, and fortunately lucky enough to not act on it. I have learned a lot - I could on a lot longer here - but I really need to spend more time reading and distilling all of your thoughts - because next time I will know to sell come the end of March, but dammit, next time will be different.