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Don - I am not being facetious, but I really am not sure if what you
wrote proves my point or not! Actually, I can see much higher if the
drop I expect holds the mid/upper-3000s. Actually, it is pretty tuf to
pick the top of a mania, just taking a stab at it. Was thinking
mid/upper-5K range since late last year, and getting close. I honestly
am not going to be shorting it and would not recommend it either.
Picking a top here is suicide. Rather get confirm. But insanity is
rampant!
Steve
---
Steven W. Poser, President
Poser Global Market Strategies Inc.
url: http://www.poserglobal.com
email: swp@xxxxxxxxxxxxxxx
Tel: 201-995-0845
Fax: 201-995-0846
----- Original Message -----
From: Don Thompson <detomps@xxxxxxxxxxxxx>
Cc: <realtraders@xxxxxxxxxxxxxxx>
Sent: Monday, March 13, 2000 12:41 AM
Subject: [RT] Re: NASDAQ and fixed income markets
> Steve,
> I respect your opinion you have contributed alot over the years...
> But only 300 to 400 points?? That's 8%.
> I live in this SillyCon Valley I am not in the mania, but Here is a
few
> things I hear.
>
> I am at the Arco station filling up. A guy behind me mutters.. $1.70
a
> Gallon.
> We start a conversation, blah blah blah. Oh, yeah I can remember the
day
> when it clicked over a dollar a gallon in the 70's.. He mutters.. yep
> its about time to join a start up.
>
> Another friend, was interested in hiring this woman within his company
> to become his admin, She was his second choice, so she quit after
> joining a start up.
> She got options, about a month later, they liked her work so much,
that
> they gave her a raise and more options, The company goes public, she
is
> now worth 2 million dollars. She is a divorced mother of a 5 year old.
>
> My neighbor talks about her friend's startup . She expected a stock
> price of 40 dollars... never expecting the stock to run to 300.....
>
> Another person, hears of the house being sold down the street for
460K,
> The people who bot it did so with cash.
>
> The neighbors across the street in a 2800 square footer. They put
> $90,000 in high end flooring, marble tile, and granite counter tops.
> This is in a house that's 20 years old and is in a tract. Guess what
> they sell it for 710K and move on up the hill to a bigger house.
>
> This is truely mania yet,I think that people in this valley are fairly
> savy. They aren't panicing out of their 401k's. These are people on
> average who are mostly in thier mid to late 30's to mid 40's they see
no
> REASON to bail when the money is long term investment.
>
> I know another guy who invested 27K in PMCS. Guess what he's sitting
on
> 500K in profits.
>
> So Steve, most people here would look at your statement and go
"duhhhh,
> you have to be kidding". So what. Say the PMCS dives 50% he still has
> 250K.
>
> Best regards and go figure a mania..
>
> Don
>
>
> swp wrote:
>
> As luck would have it, the
> > NASDAQ should fall 50% from about 300-400 points higher before the
year
> > is out (oh, and 50% takes us to about the October 1999 lows). Buy
bonds
> > from near 6.40% for a mega rally.
>
>
>
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