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Strategies & Market Trends : Position Trading Forum -- Ignore unavailable to you. Want to Upgrade?

To: Pierre Aydin who wrote (3121)	10/8/1998 12:00:00 PM
From: Wowzer	Respond to of 7247

"The 30yr Bond is selling off, the market should go up instead of down, there is so much confusion going on right now, nobody knows what's going on, I blame the idiot Greenspan, there is no leadership right now, I hope we don't sell-off when House votes on Clinton's impeachment today." Give me break. It isn't Greenspan's job to make sure you make money day trading. He has led this market and more importantly the economy trough the most successful runs in history. Anybody who can spell internet could of found a well paying job in the last couple of years. Historically this is not the norm and the market was pricing in near perfection for far as the eye can see. He is well justified in expressing caution. Anybody with a half a brain knows that this market, especially the big caps are still extremely over valued as compared to historical figures. Just take a look at DELL it has a book value of 1.25 Sales of 12 per share and earnings of .93. What do you think will happen if they can't maintain 50% growth? Or worse yet we do go into recession where people/companies decide that the 200 pentium has more then enough power to log on the net and run excel. And delay a purchase of a computer for a few more months? I won't even get into the likes of AMZN YHOO XCIT etc. Also, step back and take a look around the world. There are some serous problems developing which WILL effect the USA. A recession for the US is a real possibility. That being said Greenspan may not have lowered rates enough but I trust he knows what the he is doing. More than some day trader who's biggest concern is if he should hold his position overnight. Rory