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It has been many years since I studied the activities leading up to the 1929
crash, but I do remember the milkman, barber and construction worker all had
lots to say about stocks. The stocks that became hot in the final year or
so were much like our NASDAQ stocks and they soared beyond reason much more
than the blue chips which were also flying high. Everyday I hear something
from a person that normally wouldn't have an interest in the market. The
fellow that replaced the air handler last week had a big tip for me.
Perhaps when the really small cap stocks soar we will see the end of this
bull. I don't follow those little companies so I would be interested in any
views from those that do.
I doubt that 1929 will be duplicated and the charts produced recently show
that it isn't happening now. The market tends to no repeat the last crash
but more an older crash. 1987 was not a crash as in the 1929 style but
rather a very short panic without the devastation or deadly margin calls of
1929 or other major bear markets.
Just my thoughts.
Jimmy
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