BoatBanter.com - View Single Post - economist blames wall street for collapse

Canuck57[_9_]

On 09/05/2010 11:26 AM, wrote:
On Sun, 09 May 2010 12:40:36 -0400, wrote:

Wall street prices are just the illusion of money.

really? ever sell any stock?

Yes, just last week and because of that I was part of the run on the
market that crashed the value of those stocks.

The fact remains that stock prices are based on what people are
buying, when they sell that "value" quickly disappears.

If there are a million shares of a stock that is selling for a buck
each you could say there was a million dollars worth of value out
there but if somebody actually tried to cash in more than a small
percentage of that stock it would quickly be a 50 cent stock.
In that regard the value is just an illusion.
All you have to do is look at a stock like Pets.Com to see that.
That was Clinton's bubble. In 2000 it looked like the economy was
booming but within a few months that booming stock market crashed when
people actually tried to cash in on that boom. The Nasdaq went from
6000 to 2000 in 12 months (Jan 2000 - Jan 2001). That was a crash you
can't blame on Bush.

I would be setting my limits this week at 30% below. Selectively of
course as some will not rebound.

Pets.com, I would buy it no how. Consumer cyclical and optional. I
doubt pet adoption is high on the minds of the spending public.

But one has to like these liberally mismanaged debt/currency issues.
The market churn is fantasic for profits.

What do you think bottom is? Dow 10,000 or 8000?
--
There is a sucker born every minute, liberals and our politicians are
counting on it.