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At 02:40 AM 9/14/97 -0400, Kammm@xxxxxxx wrote:
>
>In a message dated 9/14/97 5:54:36 AM, money4u@xxxxxxxxx wrote:
>
><<Would anyone else like to share their thoughts for early next week?>>
>
>About a month ago, I thought there was a high probability of a 1987
>correction. With all the talk of it, now I believe that won't happen.
> There's too many people betting it will.
>
>Katherine
>
Maybe on this forum and misc.invest.futures, but EVERYONE else I know,
except me, is blindly putting as much money as they can in their 401K
growth and income fund. They happily say they NEVER look at the NAV (most
don't even know what it means). And they all think I'm crazy to be a trader
(which may be true).
I remember sitting and watching CNBC in Los Angeles on Friday Oct 16, 1987
and Monday Oct 19, 1987. I fortunately got so scared on Friday's 100pt loss
that I sold everything. Then on Tuesday, I told my wife to go down to the
bank and withdraw as much cash as she could, if the bank was open. It was
not funny.
On the other hand, I think most people on this forum are way too
pessimistic. In my case, I find myself kind of hoping the market will go
down. Deep down, I think it's beacuse then I won't have to pick up the
phone and make a trade (I don't short the stock market - too many people
working to make their companies and the economy successful - it's like
betting against the house). Back in October 1987, there was little fear on
CNBC - everybody was saying it had much higher to go. But interest rates
were climbing. That's just not happening yet. If it does, then head for the
hills.
So much for the rambling...
----------------------------------------------------------------
Lawrence E. Lewis
Vice President, Chief Technology Officer, Chronology Corporation
EMAIL:lel@xxxxxxxxxxxxxx TEL:425-869-4227 x122
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