Replies to post #143201 on Zeev's Turnips Patch-No Politics (ZEEV)

[duper_man]

mlsoft, you must honor those tight stops its the only way to play. As for a lot of selling being done at the highs don't believe it because there is a buyer for every seller. That's just how markets work. Having said that who knows you could still be the guy who caught the exact top. That why we all have our stops in.

Here is another thingie I got today. EPS for SPX upped to $60 for 2004. Doing the numbers by slappin a conservative 20 PE on that we get 1200 SPX in 04. That's a cool 20% from here and that's fair value. Now how can you get the strength to short that with the tape as strong as it is?

[basserdan]

"As I said, I may be wrong about the Gambit running out of gas - the Gambit is absolutely critical to Greenspan's efforts to reflate the economy and he will do whatever it takes to keep it going since he knows that if it fails here and the markets tank, the economy will rapidly turn back down and we will join Germany and France in a recession that will be very hard to recover from. I am just reacting to what I am seeing on the tape, and that is a whole lot of selling into a market that is making new highs all the way around."
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ml,
Listen to your own words,

"he will do whatever it takes to keep it going...."

If that's an accurate statement, and fwiw, I heartily agree with your words, and when coupled with the fact that he also controls the checkbook that so often seems to help power the markets in such a puzzling manner, I am forced to wonder why any intelligent person would even venture to the dark side when that path has been so perilous for so long a period of time.

Is it the faster gun syndrome or just an inability to ignore the shitty fundamentals and constant spin of those who are getting paid to spin?

Sometimes I turn on CNBC and usually just end up shaking my head in disbelief at what some of those supposed pros are saying with a conviction that includes everything short of crossing their hearts and hoping to die........

I say to myself, "they can't really believe that crap, can they?"

And several days later, those same pros are proven 'right' when their bullish utterances are confirmed by various stockprices turning a bright green while unknown numbers of ever hopeful top picking short sellers who have so far managed to have avoided the need of a body bag sit and lick their wounds while looking for another prospect that is ripe for shorting.

I thank my lucky stars that I found my 'religion' last year and converted to a one trick gold nut for I would surely be hurting BIG TIME if not one of those nameless body bag wearers.

Geez, I surely didn't intend to get on a soap box when I started this post and I apologize if I've offended anybody with this semi rant of mine.

Other than Zeev and I would guess you too, mlsoft, I can't think of anyone who talks about their trades who might be up over 100 % this year.

In all due modesty, I consider myself to be in very exclusive company here at Zeev's "humble abode". <VVVBG>

I believe the best is yet to come for the PM buffs!

Gold fever! CATCH IT!

Good luck to those of every persuasion in the coming weeks and months, and please, if at all possible, don't fight the fed!