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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host -- Ignore unavailable to you. Want to Upgrade?

To: stock bull who wrote (7744)	9/6/1998 6:29:00 PM
From: Skeeter Bug	Read Replies (1) \| Respond to of 42834

sb, it was a chinese official. that is why it caught my eye. they were real hard line before. "not gonna do it" (with a george bush twang. well, george did it ;-) i see china doing it, too. i have no idea what the market will do. it surprises me all the time. i think its participants are emotional messes ;-) i do know that nearly every company outside of the large, highly liquid, popular companies are now headless and wondering around. money has been net leaving this market for quite some time. it just finally reached the dow and s&p in force. we are at ridiculous valuations - even more so if you factor in that the reported earnings are significantly impacted by short term accounting shinnanigans such as stock options in lieu of salary (when the market goes down people stop accepting stock and want money which increases expenses), one time charges all the time ;-) and this "in process r&d" crap when purchasing companies. companies like yahoo are taking $40 million as an "in process r&d" charge when the company that they purchased has done only $2 million in r&d in their history. if they didn't they'd be losing money right now. i see us going lower. the old paradigm is in effect. fear and greed. money is leaving this market. the tail can't wag the massive dog anymore. not over the long term. btw, ther bulls feels that alan g said he'd lower rates. NO WAY. what he said is that he'd just asd likely lower rates as raise them. what this says is that he'd just as likely raise rates as lower them. the bulls have a hard time understanding the english language when it doesn't support their view ;-) lowering rates IS a dangerous strategy. it should proceed with caution. ag's only responsibility is not to support a bubble market.