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Food for thought Friday July 6, 2001
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"Among the hazards of speculation the happening of the unexpected -I might even say the unexpectable - ranks high. There are certain chances that the most prudent man is justified in taking - chances that he must take if he wishes to be more than a mercantile mollusk--" Reminiscences of a Stock operator--
Friday July 6, 2001
12:08 PM
Food For Thought
The Bears are attacking the U.S. Equity mkts on Bad News …and they are in quite a hurry based on momentum…gosh they are in a hurry to plunge the mkt to lower levels… In my opinion the bullets they have left are now far and few between…
Six months ago they had high crude prices… a drag on the economy….
They were pounding the tables at 10.00 Natural gas and got their way as investors shifted from tech into energy in a big way.. well Nat gas is now at 3.00 and change.. techs are dead.. crude is 13.00 bucks off last years highs the economy is slowing and not reacting fast enough to the Feds cuts for the money on the side to begin to buy..
The bears have very few bullets left and will soon have to retreat and retreat in a big way… the Very Same companies who scoffed at any idea of declining earning a year ago are now running around like chickens with heads cut off saying the economy is in a spiral down and never will recover…
The same CEO’s Were Wrong once and soon will be wrong TWICE !
Then we have the Bearish economists .. who are gloating and saying the Job mkts stinks… COME ON BOYS AND GIRLS .. we have a 4.5 Unemployment rate !!!
WHAT WILL MAKE THESE PEOPLE HAPPY 100 % of people working…?
The mkt is down and still digesting the large decline from a year ago.. bearish analysts jump on the bandwagon a year later and foretell doom and gloom !
Meanwhile the bears are shooting all the bullets they have .. Why ?
To get the mkt down so they can cover shorts… …
But is the economy really in bad shape ?
95 % or MORE of workers wanting to work are working .., the Fed has dropped rates six times and the VERY SAME CEO’S Who never foresaw a decline are now feeling the world is ending ?….Give me a fricking break…Boys… stand back and look around ! and start upgrading your systems before the next guy Does !
Enough is enough ! Traders Hold on to long term longs and look forward to the
Upcoming Bull mkt !
Happy Trading Bill
7-06-2001
12.33 PM
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