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It would make sense since both of the other crashes happened in October. Those
that do have fear would like to exit early. How many of the young Turks will
get caught if there is a downdraft in the market. None of them know what a bear
looks like. It has been an extinct species for about 12 years.
The worst thing that could happen to this market and all that assumed wealth is
a repeat of 1969 to 1974. The system of buying pull backs will bankrupt a lot
of people. Is there another Paul Volker out there?
Have a good week. Ira.
Dick Crotinger wrote:
> Jay Shartsis, the options guru at Lafferty, wrote this week's Striking
> Price column in Barrons, and concluded with the following paragraph, apropos
> of recent talk here about Arch Crawford...
>
> "If the slide since the July top hasn't shaken you up, Arch Crawford -- who
> has had some very prescient market calls -- thinks that "the greatest crash
> this century has begun." Or try this one -- the two big crashes of this
> century, 1929 and 1987, both happened 55 calendar days after the peak in
> prices was recorded. The S&P 500 and the Dow saw their highs this year on
> July 19. Counting 55 days forward brings us to September 9, 1999, or
> 9/9/99."
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