Pollies not invited! Any Doomers have any explanations? Our story for the last two days was that the "Peoeple in the Know" were selling off. Any theories?

-- Think It (Through@Pollies.Duh), January 07, 2000

Answers

Manias are irrational. The rise and fall of greed are spurious. The end of avarice is sorrowful. Hard times are coming...

-- dinosaur (dinosaur@williams-net.com), January 07, 2000.

Interesting to note the number of *huge* blocks of stock going off (being sold) today (not just LU, but many of those).

Who do you think owns the huge blocks? Institutions/'smart' money

Who do you think is needed to buy them? 'regular' folks.

Will the 'regular folks' keep buying if the market goes straight down? No.

Therefore, the market needs to move up like this in order to suck the last few (non-invested) dollars in.

This isn't a conspiracy theory. It's called "pump and dump".

Also, markets simply 'do things'. No one individual conspires to do these things. We have names for repeating patterns. The name for what happened today might be called a "sucker's rally" or a "bull trap". Or, it might simply be called a rally or a bull market. We won't know until some time in the future. That's what makes it all so interesting.

-- Me (me@me.me), January 07, 2000.

"not just LU"

What's LU? Third time I've seen this abbreviation in past 2 days.

Large Underwriters?

-- Just Wondering (xxx@xxxx.com), January 08, 2000.

Think it People in the "don't know"are buying the dips as programmed.The market will hold until the last lemming has bought in.

Just wondering
-- Dragnet (just@the.facts), January 08, 2000.

LU = Lucent Technologies. Darling of Wall Street. Widely held stock that posted earnings warnings.

-- (I'm@pol.ly), January 08, 2000.

What gets me is how Asia depends on Wall Street's "stock market perception" for it's rise or fall. The URL I've pasted below takes you to Yahoo!'s foreign stock market index with news links. Take a look at Hong Kong's news - I found it very disturbing...

http://finance.yahoo.com/m2?u

It's only perception, not true stock strength. It seems to me that the stocks are extremely over-valuated. I wonder how the lost revenue from this past week will affect our economy later...

-- Deb M. (vmcclell@columbus.rr.com), January 08, 2000.