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 : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: marginmike who wrote (46592)	7/21/2002 11:21:09 PM
From: Robin Plunder	Respond to of 209892

Hi, MM....yeah,Don issued a 'special statement' Friday afternoon, basically saying, wow this looks awful, but don't worry, my indicators are still consistent with market bottom... He must really be a nut. What makes him like that? I am wondering if his religion is affecting his thought processes, ie, he thinks morality is derived from faith, and places a high value on morality. He also comments that he has high 'faith' in his indicators, I wonder if, for him, it is essentially felt as immoral to doubt and question his indicators. Reminds me of George Gilder, and how he refused to question some of his favorites, eg Global Crosssing and Globalstar, as they slid down to 0 and his buddy Winnick walked off with 750 million. GG has strong reliance on faith as well, maybe it prevents him from recognizing problems and re-evaluating his position. Anyhow, it feels much better to be short these last months than long. I am wondering when to cover, but don't think it is time yet. The 'bankruptcy' head and shoulders on the nasdaq 5 year chart is pretty wild.....has that pattern ever shown up on an index before? Even tho I was making money last week, my hands were shaking just to watch this relentless decline. Most likely our economy is in deep trouble. I am selling my house and planning to rent for the next year or two,(as recommended by Prechter in his book 'Conquer the Crash') and see how this plays out. It is pretty funny that I never thought to sell the house and invest it when the bull was running, but now I say to the wife...'hey, I got a great idea, how about we sell the house and short the market?!' I guess this must be the bottom (rofl). Robin