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I was clear today so I spent a lot of time just watching. I was especially
interested in a few very lightly traded issues. I put up ten such stocks
.. Stocks that often do not trade at all in any given day. What was
interesting is that 8 of those 10 stocks sold off today and by sell off, I
mean they were throwing them in at market.
Then NAS isn't going to zero and I still maintain that most of what is
wrong with the economy is the stock market. If you were sitting in the ceo
chair of a company with a market cap of 10 bil one day and found yourself
sitting there with a market cap of 500 mil, how many orders for new
equipment would you be placing? (My numbers aren't germane but the
principal is).
Right now, it seems impossible that the market could sustain any move
up. I mean *impossible* since you just *know* that any rally will be sold
into and fail. The bubble has burst and has imploded. We are now
hopefully, going to find some middle ground and allow common sense to
prevail. In the mean time, I'm not going to short any more as I see the
risk tantamount to buying at NAS 5200. I'm clipping quarter points both
ways and waiting for the bubble to refill to sustainable limits.
Bob
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