Trust me, the smart money is buying right now. My money is smart, my broker friend is smart, and u'd be smart to buy now. I'm talking strictly buy and hold. The buy and hold crowd that bought oil companies like Texaco for 10 cents a share, they are buying the Nasdaq now, and some Dow stocks too. My broker friend says this week will show me profits, if he is right there, then it will be a good sign. We'll see on friday where the smart money is.
OK then answer me one question. Why would the market turn at 23 times earnings? You may somehow manage a gain by Friday, but (since you are a buy and hold investor) that doesn't mean you will sustain that gain for the life of the investment. FYI, eveyone here thinks their money is smart until it proves to be dumb.
Did the bull market happen because of earnings? Earnings aren't really a factor for me. The market sentiment is almost 100% bearish, thats why the smart money, and I mean loads of it, are buying here.
Well I'm glad lots of people are buying because that is the fuel the bear needs to take the market on its next leg down. As soon as the consumer spending bubble and RE bubble pops, maybe we'd have a basis for actually buying stocks.
Bottom line (no pun intended) is that we will never see a bottom until guys like this perma-moron absolutely and positively hate stocks. Once these people dump everything and anything at whatever price they can get filled, then and only then will we see a bottom. Otherwise, we will continue to bleed lower until we get oversold...then another short covering rally....then continue to bleed lower.... As long as these morons keep trying to pick the bottom down we go! Good luck perma-broke... BB
well - if one plans to give his shares to his grandchildren - who will probably give them to their grandchildren - who will then sell all the stuff in more than 100 years from now - probably now would be a time to buy (or maybe not).
Did the bull market happen because of earnings? Earnings aren't really a factor for me. The market sentiment is almost 100% bearish, thats why the smart money, and I mean loads of it, are buying here. During the formation of the bubble, people didn't pay attention to earnings. That's the whole problem. If you and your broker don't get that, then I doubt that either of you are that smart. People like you and your broker would just buy the hype. If you are so smart, why are you relying so much on you broker? Do you know how easy it is to become a broker?
people like these are the most important market participants. they deliver the $$ for the rest. fortunately there are so many of them.