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 : The New Economy and its Winners -- Ignore unavailable to you. Want to Upgrade?

To: Bill Harmond who wrote (12188)	6/23/2002 2:55:13 PM
From: techanalyst1	Read Replies (2) \| Respond to of 57684

I know. But the volume wasn't nearly as high. I know I SOLD a whole lot of puts Friday (closed them out even though they had several months left..... I figured with vix that high why not just take advantage of the higher volatility premiums... a profit is a profit) and that counts in the put side. Vix and vxn rising too but not nearly as overbought as they were in Sept. and the indexes aren't nearly as oversold. Sept was a clear panic and everyone thought that stocks were just being thrown out. That doesn't look like what we see now.... at least to me. If that were true, we would see higher ticks and even worse a/d's. No telling what the put call really means because it was expiration day.... although I should note that the moving average on put/call is higher now than in Sept. I must say that this could be my best year yet but I find absolutely no joy whatsoever making money trading or being on the dark side. Somehow I just can't really get into... "die you overbloated flying pork chop!" I think this whole market slide is bad bad bad bad for the economy. How much money was being brought into the fed's coffers from capital gains? How much are they going to see now? Not only is there probably enough capital losses to be carried forward to eat into gains, but how many employees are going to pay tax on employee stock options? How much less is there going to be when people cash in 401K's not to mention how is this going to affect company's abilities to expand and get financing? To me... it's not just whether stocks go up, whether I make money in the short term, whether we bottomed on Friday or whether it's next year or last Sept. It doesn't matter that people may say, "oh well.... I'll just go on my merry way and forget the market. I took my losses and it's over for me". It's what is the effect of the stock market slide on the economy and the ability for the government to collect enough taxes to meet their obligations.... and I suspect that there were assumptions of nice sums coming in from capital gains. They'll have to figure out some other method to collect taxes if not from capital gains. Where is that going to come from? And what about pension funds? What about companies like IBM, GE and GM that are assuming nice returns? Oh whoa is any company expecting large returns and that is one reason I think that each of those companies are seeing their stocks slide... even if analysts aren't saying it, I bet they will soon enough. TA