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Now if you broker types want me to believe that there are no people out
there that have borrowed on there houses, credit cards, and insurance to
invest in equities and hoping to retire on the proceeds, then I guess that
no one cares. Do you tell your customers that there is a divergence(RSI,
Momentum, others) on a monthly chart of the Dow for the first time in more
then 10 years and that the worlds 2nd largest economy is on the brink of
disaster and just had to be propped up. Or about some of the other
undertows like bankruptcies, credit, or commodity deflation. Then there's
nothing to worry about. I for one will continue to invest in high
probability market moves when my indicators are ripe like the $250 S&P put
that I bought last Oct. that went to $8000.
Best Regards,
Brent
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> From: Paul Brittian <tradeblt@xxxxxxx>
> To: brente@xxxxxxxxxxxx
> Cc: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Subject: Re: Bull Mania Alive and Well
> Date: Wednesday, June 24, 1998 2:04 AM
>
> It seems to me the real question is how high is too high...I don't know,
> I do know that I've taken a heck of a lot more short orders than longs
> and watched a way too many traders get mowed over because of they
> thought that the market was way over bought and due for a correction.
> I've sadly watched this go on for the last 500 points in the S&P, nobody
> wants to go long, and if they do, they only take a couple points. Why
> fight the trend? As long as American workers keep feeding their pension
> plans, annuities, IRA's ect., this market will run.
> Paul B.
> BrentinUtahsDixie wrote:
> >
> > RT's,
> >
> > I have on several occasions talked about the Bull and my apprehensions
> > regarding its future. I am not one of those that has a year 2000
phobia. If
> > concerns can be demonstrated to be real such as the y2k bug then that
is
> > something to consider if not I don’t fear the round number. I fully
expect
> > some will pull there money from the markets before New Years day 2000
and
> > go set in a cave. I have thought a lot about the market crash in 1929
and
> > wondered, was there any mechanism for hedging back then like options,
> > index futures, etc? How would that effect a crash?
> >
> > Or how about this, lets say you’re heavily short and it totally crashes
are
> > you going to be holding a bunch of “I owe you’s”?
> >
> > If it were 1929 and the crash were coming this fall would everyone
think it
> > was mania? I think not. I think it's like musical chairs but that last
one
> > sitting loses instead of wins.
> >
> > 2 cents,
> >
> > Brent
> >
> > ----------
> > > From: Dennis Conn <dconn@xxxxxxxxx>
> > > To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> > > Subject: Re: Bull Mania Alive and Well
> > > Date: Tuesday, June 23, 1998 3:00 PM
> > >
> > > A.J.,
> > >
> > > If the common perception of the stock market is one of speculation
> > without
> > > risk, at least as far as buy-and-hold sales pitches imply, then what
IS
> > > "unreasonable enthusiasm"? It seems to me that the definition
validates
> > the
> > > opinion that the current lofty levels of the market, combined with
the
> > > continued inflow of funds from an ob-sessed public, constitute a
mania in
> > > the classic sense of the word.
> > >
> > > Awaiting the inevitable condemnation,
> > >
> > > Dennis C.
> > > dconn@xxxxxxxxx
> > >
> > > >
> > > > I guess this depends on how "mania" is to be understood.
"Excessive or
> > > unreasonable
> > > > enthusiasm" is what the dictionary tells us - I'd want to say that
in
> > > this case it
> > > > is neither. Looking at prices in terms of "intrinsic value" is out
of
> > > touch, as it
> > > > neglects to account for the driving force behind markets today,
which
> > is
> > > capital
> > > > accumulation, with dividends only representing a paltry amount of
total
> > > expected
> > > > return. The "mania" is the reality here.
> > > >
> > > > Regards,
> > > > A.J.
> > > >
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