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

To: byhiselo who wrote (60077)	11/21/2002 11:53:36 AM
From: Perspective	Read Replies (1) \| Respond to of 209892

<short and sitting, to keep from falling down g> Hedged and watching in horror. <ng> Sorry, but I don't play fools games either. I won't buy QLGC at 50 times earnings just because I think the market's going up and some greater fool will pay me 70 times earnings next week. I just can't stomach that approach. I will buy QQQ, however, based upon patterns I've seen repeatedly. Tried to nab it on that little dip this AM and blew it. Trying to shave pennies. So, I'm waiting for the appropriate timing to release my hedges, but consciously trying to delay that as long as possible. I say again, the price of an early short entry here far exceeds the opportunity cost of being a little late. Wish I coulda joined in all the fun today, but for me it's fun just watching things get bid back to the stratosphere, providing yet another tremendous shorting opportunity. I think we've now started to fully discount a normal cyclical recovery, one that obviously can't happen. You can't have a recovery because the recovery would require interest rates to remain where they are. And if there's a recovery, all the hot money will chase stocks, and interest rates will increase if for no other reason than this. While we can levitate in the meantime on the back of vast amounts of money creation thanks to Greenboink, it ultimately comes down to a post-bubble environment that will take many years to work off. I remain absolutely dumbfounded by the collective ignorance. You'd think people would have learned a few lessons after the past few years, but that clearly hasn't happened. The casino is back in business. BC