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I'm not sure any more if having traded the markets for more than 30 years
is a plus or a minus but I would like to toss in a thought here. We seem
to be making cases for huge moves up from these levels or a continued
plummet into the abyss. I expect neither. I find the markets reasonably,
(overall), valued now and expect a lot of chop. The economy isn't nearly
as bad as some are depicting it to be but I see no reason for a run-back to
recently departed, over-valued, equity prices. It's a trader's market ...
good luck the rest of the week to all of you.
Bob
At 09:02 PM 9/24/2001 -0700, you wrote:
>Stop it you guys. You are going to make me believe that another 20 year
>bull has just raised its head. It is like seeing the bear on the cover
>of Time or the skull in the Phoenix paper business section. When
>everyone says zero, I have got to believe that everyone that wants out
>is out and the only ones left are the shorts with a lot of stock to
>cover.
>
>Ralph Volpe wrote:
>
> > Norman, I really enjoy Dorothy's view and I do listen to what she
> > says. (Do you hear that Dorothy?) Like you, I should have heeded the
> > yelps of doom sooner, but I think the WTC event really tipped the
> > scale in favor of the doom sayers. This type of event is really
> > unprecedented and unpredictable. Along these lines, I recently checked
> > the drop in 1991 when Iraq invaded Kuwait: that drop was about 17%. If
> > you check this past drop, it's about the same percentage. One thing
> > that may really tip this market in favor of the bulls is a quick
> > resolution to either the capture or killing of bin Laden. If we bear
> > minimal losses, I think this market will scream higher. As for
> > getting bin Laden, I think that's imminent with the vast buildup of
> > forces in the area and the close cooperation with the Russians. Last
> > I heard, there are over 650 aircraft and 3500 Tomahawk missiles
> > heading for the Middle East, which is a much larger arsenal that what
> > was assembled to extract Iraq for Kuwait.
>
>
>
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>
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