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I was just thinking of a good scenario for a NASDAQ top.
As many of you have read, there is a heck of a lot borrowing going on to
buy all those tech stocks. Many of these people have made oodles of
money. These same types have fallen madly in love with the Chevrolet
Suburban. You know the vehicle. The one that causes a total eclipse when
you pass it, has four kids screaming in it and seems to use five gallons
per mile!
Well, at this point, you need to get a mortgage to fill that thing's
five zillion gallon tank. With home equity lines already maxed out on
the NASDAQ, people will need to sell NASDAQ stocks to buy gas for their
Suburbans (of course, with Priceline.com selling gas soon, that might
lengthen the bull another few months).
---
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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