Loose lips sink Stocks ??greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
All morning people on CNBC have been talking negatively about the sudden run up in the Nasdaq. At least 6 people mentioned that they were very uncomfortable with how every day people are winning in the markets, especially the Nasdaq and one guy even said "You cant go into the Casino every day and win, even the casino owners know it and the markets don't" or something similiar.
Markets started taking a little dive and them some negative news came out and its all slowly going lower.
Could be interesting to watch how this day plays out, after all the euphoria we saw in the last week or so.
-- hamster (firstname.lastname@example.org), November 23, 1999
What goes up must come down, spinning wheels got to go round....
-- ~~~~ (~~~@~~~.com), November 23, 1999.
Bzzt, the markets do NOT have to come down. Share prices bear no relation to what is happening in the real world, only to whispers and rumours about where the "big money" is about to move. And as long as new money keeps going in, the market is going to keep going up. Large investors are not going to pull their money out of the market until they see the prices dropping everywhere. And that won't happen until a large amount of money starts leaving. Catch-22.
Joe Sixpack isn't going to cancel his insurance policies, and I don't think the banks will see a run until late December. Until then, and maybe not EVEN then - all our doom and gloom to the contrary - the market is going to keep going up. THERE IS NO CONNECTION WITH REAL WORLD EVENTS AND MARKET PRICES. Deal with it.
-- Colin MacDonald (email@example.com), November 23, 1999.