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I think this pretty much describes the current situation. The last sentence
is extremely important because markets are a creature of public psychology.
Some have taken my long term bearishness to mean that I see the end of the
world is neigh, however a careful read of my comments says otherwise. My
long term investing plan is based on odds and I see the odds of another
major bull market launching from here as near zero and the odds of a
sustained and painful correction as high, thus clipping coupons looks good
to me at this time.
As in all things, one must consider the time frame in which one operates and
I always try to be clear when I am speaking of trading or investing time
frames ... most of my posts here deal with my trading time frame and my
posts regarding investing are relatively sparse.
Those who didn't like my bearishness, must have missed my post: "Time
Clusters for a market turn on/about 11Sept". Rest assured I will be looking
to go long index futures should this turn materialize! Above all things, a
trader allows the market to dictate direction.
Earl
----- Original Message -----
From: "Ira Tunik" <irat@xxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Sunday, September 09, 2001 7:54 PM
Subject: Re: [RT] 1929 Comparisons
> do it. With over 2 billion shares traded a day, how long would it take
to
> liquidate $4 + trillion dollars in stock assets? Until the public throws
in the
> towel, I don't believe a real good old fashioned crash will occur. Right
now
> the public seems to be, "fat, dumb, and happy". this is just one mans
opinion.
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