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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: orkrious who wrote (48070)	7/29/2002 10:21:17 PM
From: yard_man	Read Replies (1) \| Respond to of 209892

I think it was somewhat fun to read because it certainly was already leaning to the idea of a bubble having formed at that time and I agree that a bubble had already formed at that time ... but now we've had the .com implosion; the tel.com implosion and ener.com implosions are in progress -- and for all this, the real stuff has yet to hit the fan. Try telling that to your friendly J6P and you will just get blank stares. They KNOW they have already lived through the worst ... things can only get better. Chatted with my boss tonight about investing ... he still believes that buy and hold is right, but has conceded that timing your entry into the market can make a big difference ... so it goes. Bulls all whipped up about a bear bounce, incited by what I think was some kind of intervention on Wed. That comparison to '98 is apt -- someone decided that a rally needed to coincide with that announcement concerning the corporate fraud bill. The fact that such legislation is on deck points out the future direction of the markets if one is simply able to step back and see the larger pictuire, IMO. Confidence remains strong indeed, but the last few days of fireworks don't demonstrate that. No capitulation, no bottom. One day CASH won't be a four-letter word and maybe, just maybe, neither will GOLD, but for now, party on snd spend the recovery which is just right up around that next corner -- just past the last confession of corporate misdeeds. All such confessions can be done by Aug 14, so we better buy now. After Aug 14, everyone tells the truth and businesses only do what is in the best interest of the future of the biz, not just what will pump the stock price short term. Businesses will no longer take on debt just to make it appear healthy to the ignorant masses. After all, we have the example of our chief who will only run the government on what revenues can be collected and never deficit spend or do anything that would increase the indebtedness of the country for no good cause ... he would never temporarily pump anything to get someone elected. Things are fixin' to get terribly ugly. When you look at a chart a year from now -- this will barely show up, IMO.