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To: UnBelievable who wrote (64106)2/1/2001 9:10:23 PM
From: Shack  Read Replies (1) | Respond to of 436258
 
I don't think you need look further than the discrepant and volatile behavior of prices to see that this is a sick and dangerous market.

Of course it is. It really has been for a few years. But for me it is nothing more than a vehicle to make money and it is up to me to figure out who is behind the wheel. If I believe the fed is driving then I need to hitch a ride. I can always leap out the window if it begins slows and goes in reverse. I've already leapt.

maintaining stock prices which are so unrelated to the economics of the companies they represent is fundamentally unsustainable.

Sure but in what frame? They have been disjointed for 5 years in my opinion. That's a big chunk of my "investing" life. As long as there's liquidity, there's the potential for higher prices regardless of fundamentals. For better or worse, thats all that really matters. Once the saturation point hits, then its time to bail. I see evidence that we are near that point, but it is inconclusive. The day of reckoning is indeed coming though and we have front row seats.