Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Davy Crockett who wrote (4525)	8/30/2001 11:05:34 AM
From: John Pitera	Read Replies (1) \| Respond to of 33421

Peter, I think the idea is that no one will buy, nor can we recreate the market psychology and conditions that gave us the Equity Mania of the Late 1990's. Not for a number of years. I think it's very similar to what we saw in the commodity markets after the Peak of these markets in 1980-81. In 1982-84, there were still those who were looking for Crude to go to $75 and 100$, Gold to go to $1200, $1600 and $2000, and for even higher rates of inflation and generalized price inflation. I realize that most people reading this don't have all of the old commodity charts and 20 year old books talking about the coming depression, dollar crisis, misfortunes of the US and the World that were so prevalent in the late 1970's - early 1980's. Also i realize that most are too young or were not actively engaged in the markets back then to remember a very active, heated trend that had investors consumed with it's passion. It's very helpful to read some of the books that were popular 20 to 25 years ago to get a feel for the tenor of those times. I do I agree with this thought by Ben Stein. Not only that, but if they sold after colossal losses and the stocks did by some miracle rebound, they would be suicidal. Thus, they refrain from selling because of a combination of fear that they will be wrong again and denial of the finality of the end of the bubble. John