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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: robnhood who wrote (7408)	11/7/1997 10:35:00 PM
From: Bilow	Read Replies (1) \| Respond to of 18056

Rising volume was early sign of Bull death, but wasn't until the next year: On March 12, (1928) the volume of trading had reached 3,875,910 shares, an all-time high. By the end of the month such a volume had become commonplace. On March 27, 4,790,270 shares were traded. Then on June 12, 5,052,790 shares changed hands. The ticker also fell nearly two hours behind the market; Radio (RCA) dropped 23 points, and a New York paper began its accounts of the day's events, "Wall Street's bull market collapsed yesterday with a detonation heard round the world." The announcement of the death of the bull market was as premature as any since that of the death of Mark Twain. In July there was a small net gain, and in August a strong upsurge. Thereafter not even the approach of the election caused serious hesitation. People remained unperturbed when, on September 17, Roger W. Babson told an audience in Wellesley Massachusetts, that "if Smith should be elected with a Democratic Congress we are almost certain to have a resulting business depression in 1929." He also said that "the election of Hoover and a Republican Congress should result in continued prosperity in 1929," and it may have been that the public knew it would be Hoover. The Great Crash 1929 by John Kenneth Galbraith page 15 I personally believe that our leaders don't have nearly as much control on the economy or stock market as they would have us believe. On the other hand, Carter cut his own throat, and afterwards didn't even know how he had done it. He should have stuck to carpentry. On the other hand, Volker did stop the inflation. -- Carl

To: robnhood who wrote (7408)	11/8/1997 9:03:00 AM
From: Elllk	Respond to of 18056

rrman re <<Larry,,,What Panic???>> Supposedly many years ago a US general was visiting the Soviet Union and at one point asked about the Civilian Defense plan which he had heard was marvelous and much superior to that of the US. His host, a Soviet general said "What?! Are you crazy?! Our procedure amounts to little more than telling our people to grab the nearest blanket and crawl slowly to the nearest graveyard!" The US general said "Why slowly?" The Soviet General replied "So as to avoid panic!" Yes rr, there is no panic because the media are doing a wonderful job of keeping shareholders calm while they crawl slowly to the graveyard! Larry