|
PureBytes Links
Trading Reference Links
|
Eddie Kwong wrote:
> Listening to the news there was quite a contrast with the 1987 crash.
> Granted we are not down the same magnitude percentagewise. But everybody
> pretty much had a sense of calm and reassurance this time. No panic. No
> fear. People have made lots of money and the one day drop just put a minor
> dent in it. Sentiment allows a scenerio on the order of what you suggest.
>
> Eddie
Actually that difference only shows the complacency that has overtaken this
market. Surely this is a varient of over-bullishness. The panic phase will set
in if (when?) the realization of a bear market sets in, and the current
overconfidence in this market going up forever evaporates.
The main difference I note is that this decline was begun overseas on
fundamental conditions which have been brewing for some time. Only when the
worsening overseas conditions are tied more firmly to our own domestic house
of cards will the real decline begin in earnest.
Maximus Profitus
Jay Steel
|