RE: Not Technical Enough
That sentiment has a counterpart..
The people playing NASDAQ were saying something
similar earlier this year about dot com stocks. They
were wrong, and the result has been disaster for them,
as well as for many people who got laid off when the
dot com companies frantically cut their burn rate.
How odd that you mention that today. NASDAQ's looking positively peachy. :)
But the reason is wasn't looking good before was because the economy was doing *too well*. Growing too fast, and unemployment was too low. It's still positively low, at 4.1 (but no longer the record-breaking low of 3.8).
Now that Alan Greenspan has slowed it a bit, the stock market appears to be rather happy. Anyway, changes over a few days, a few weeks or even a few months are nothing to the stock market. Its a long-term kind of thing. People trying to use it in any other way are playing a very risky game and will get burned.
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