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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: BirdDog who wrote (55868)	10/29/2002 10:16:33 PM
From: RR	Read Replies (1) \| Respond to of 65232

Hi BirdDog! Answers to your questions follow: 1.) Would you not agree that if it were going way up, it should have pulled back already? With regard to the big board, which is what I'm following now, the answer is "yes." I'm surprised it has not pulled back already. That's why I've been holding SPX puts recently. I've put my money where my mouth is. 2.) Wouldn't you agree that if it just continues up right now. That we will get a stronger sooner sell off? Perhaps a complete crash soon? Pull back, "yes," per my answer in number 1 above. A crash, "no." 3.) I'm wondering about your views on people thinking doom and gloom. Depends on the time frame. This could be a long answer. I'll try to be brief. Some folks preach doom and gloom every day, every week, day in and day out. I have absolutely no use for such types. Don't even want to be around them. If you have read me for any length of time, you will recall that I have written my views about this extensively on the Porch, and have done so for years now. No need to go over that again. I think they are flat wrong. The world isn't coming to an end, nor is the market. Look at a chart of the market for decades and you will get my answer. The problem is so many today, especially on SI, are thinking in such short time frames that it is simply not practical. This notion of get rich over night is nuts. Yes, there are ways to make huge returns if you are good and one can assume the risk (i.e. options, commodities, futures, etc.). They talk of doom and gloom in the context of failed expectations on the notion of mere days, or weeks, or a few months. That tells me they have never lived through a bear market or a crash for that matter. I've been in the market as best I recall now for 36 years. Been there, done that. Conservative investing made me lots of money. LTBH, reinvesting dividends, saving a penny here, a penny there. I'll be blunt... it made me rich. That's relative of course, but it did by my terms. Consequently, I have total faith in this market and capitalism. Let the doom and gloomers cry all they want to, but that's not for me. Short term? Sure, things look tough. But, again, I have a much longer term view and history tells me we're going to be just fine. I'll stay in the market. If one does not have any more faith in the market and life, get out of the market. They have no business being in it. 4.) Do you truly think that I err? The answer is "no." The short time I have read your posts, you have impressed me as a smart investor and a nice guy, too. I think that I answered all of your questions. RR