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Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: Wilson Picket who wrote (4163)	11/27/1997 12:12:00 AM
From: ahhaha	Read Replies (1) \| Respond to of 74651

Wilson Picket! I feel good, duh,daw,duh,daw,duh,daw,dut. Like I should. You might work your post into a poem. It has an e.e. cummings quality to it. Very good. It is interesting that no one cares about these bellweathers powering up. The Oct 28 thing was a bear market or phase wrapped up in one day. That's all that the downside could get away with. And few made money. It was hardly a net flow out as measured by summed tick X trade size. Reminds me of Oct '87 when there was a net in for the day. Just like back then, the specialists walked off the floor. Wouldn't fight the machines. They are backed by full faith and credit through the FED, what's their problem? Answer, they ain't no J.P. Morgan circa 1907. They are puny weaklings of the Superficial Age. They won't let the market make them money, they know better. The Wall Street attitude about the utilities is, "everyone knows interest rates are falling. That's not news. We have to start worrying about the inevitable interest rate rise and OVERVALUATIONS. So, the utilities upside move is bearish!" Thank you Wall Street. They never say a word on FNN or in the press when a powerful move is unfolding because they don't know it's happening and if they do they are too afraid to get on board. Once prices are up, they are so bold. Besides look at Korea. Look at Korea. You know the domino theory: If Korea falls, they'll take Japan with them. If japan falls, they'll pull their dough out of treasury market. If the treasuries fall, interest rates rise, causing the stock market to fall which then causes Korea to fall further...Wall Street pays guys millions per year to come up with this kind of brilliant thought. The only people impressed with it are University professors since if it's true the outcome will smash capitalism and return us to the intellectual wonder of the 20th century: socialism. How 'bout them Koreans! The market ran up into an Elliot 5th count in July, sold off and then started the herring rally. Perfect setting for an Elliot 6th count sell-off which are always brutal and start people announcing the beginning of THE bear market. The darlings are especially rapped. I'm getting lots of crybaby email from people freaked because their play has taken it on the chin. Now the psychology is, "why didn't I sell when I had the chance above; if it rallies a little I'll get out fast". That selling provides supply above and extends the upside. The current selling at the bottom is almost universally enlightened fund managers finally capitulating. They've got that bonus to protect. When a bear amrket starts, you won't hear about it and it won't become evident until it's obvious. Incredibly, that's when people hang on. They don't hang on when the market is going up, only when it's going down. You have to resist the strong suasion you'll get to join this kind of emotionalism. Keep the faith, my man.