Replies to post #7132 on Zeev's Turnips Patch-No Politics (ZEEV)

[WinLoseOrDraw]

"This is beyond crash"

not really. markets go up, markets go down. when they go up a lot, they come down a lot, and the naz is still higher than it was six years ago. i have personally experienced financial upheavals orders of magnitude worse than this Nasdump. how would you like to wake up one morning and discover your currency was - literally - worthless? and you passport unrecognized anywhere on the planet?

that is upheaval. this, this is nothing.

but none of that matters: as long as people still care, it isn't capitulation.

[Ace Hanlon]

Bulls should not lose hope. The dollar had a tremendous rally today even as stocks nosedived.

[chainik]

<Nasdaq has dropped 3800 points. This is beyond a crash. This is a negative bubble much like the one that occurred between naz 4000 and naz 5000>

Can not disagree with you more. IMO eventually one will be able to get csco for 3 and qlgc and ebay for 5 etc etc. Techs will have E and will be sold at PE 10.

Some of the people whom I follow think that this will take 5 or 10 or who knows how many years; in between there will be decent rallies. Many TA indicators suggest that we may be close to a local bottom and many on this thread (including Zeev) are trying to catch this bottom and to ride the next rally. At least that's how I look at my attempts to play here on the long side.

The question that bothers me: why don't we go to real valuations not in 10 years but now, in a few months or in a year?

My hope is that the crooks who set the rules will come up with a short-term solution to prevent collapse now. I suspect there is no way they can prevent collapse in the long run.