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Strategies & Market Trends : The Stock Market Bubble -- Ignore unavailable to you. Want to Upgrade?

To: Moominoid who wrote (1723)	9/21/1998 10:21:00 AM
From: Greg Jung	Respond to of 3339

David, in the lore of the traders, you make money by being a part-time contrarian. Things must look the worst before the prices turn, and for it to get really ugly you need the emotional "capitulation" (according to the fortune tellers' mythology). Thus a complacent bottom, one where you will find CNN interviews of Joe Yuppy and how he invests "for the long term", are still just weak "bottoms." So it is common for TV pundits who want to say "BUY" to declare that a down movement acheived "capitulation" even though they have no evidence to back it up, and the very fact that they (analyst) is still trying to be a contrary bull displays it. It is also an ego trip: by declaring you will buy after everyone has sold you claim the moral authority .vs. the "gutless mo-mo wonders". Greg