|
PureBytes Links
Trading Reference Links
|
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.
> > >
|