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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: Softechie who wrote (13908)	7/28/2002 3:51:13 PM
From: CYBERKEN	Read Replies (1) \| Respond to of 19219

<<However old money is leaving and ain't coming back.>> The question is as old as investing itself, and relevant in all sorts of markets, including the current one: Where is it going? <<Not enough fresh money to prop up the market.>> We have created conditions where the obsolete tax laws drive it in by the trillions, and that drive is impervious to the fluxuating conditions of the markets. Even if the tax laws are ever reformed (and I believe they will be), that flow will inevitably be supplemented by the new flows from partially-privatized Social "Security" taxes. And the same old question will endure, much to the frustration of the self-serving bears: Where will it go? If the equity markets are ever outlawed, the bears can dance permanently. Until then, they are always dancing toward the cliff, and, with patience, we can watch them dance right over it...