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Re: Coronavirus unleashes investor panic and now the stock market is at a historic oversold level

By: Decomposed in POPE 5 | Recommend this post (0)
Fri, 28 Feb 20 6:54 PM | 26 view(s)
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Msg. 53685 of 62138
(This msg. is a reply to 53680 by micro)

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micro:

Re: "WHAT exactly was the DOW built on for it to be at over 28,000 ?"
Quality stocks are backed by something. Dollars are not.
Re: "When you build a house of cards, it doesn;t take much for the house to collapse back down to its foundation..."It could go sub-10,000 then. (I'm currently thinking of buying if it goes sub-24,000 though. I'll reassess that if and when it approaches that level\.)




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Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months


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The above is a reply to the following message:
Re: Coronavirus unleashes investor panic and now the stock market is at a historic oversold level
By: micro
in POPE 5
Fri, 28 Feb 20 6:12 PM
Msg. 53680 of 62138

Likely. But it doesn't matter.

WHAT exactly was the DOW built on for it to be at over 28,000 ?
This is a market that a few years ago was always around 8 - 12 000 points. WHY was it driven to this pie in the sky upper atmosphere number?? WHAT was supporting it?

Exuberance? Expectations. Feeling god that Obama was not in office and neither was the Beast?

This really does not surprise me and I have been expecting it for some time...

When you build a house of cards, it doesn;t take much for the house to collapse back down to its foundation...

This is why fundamentals matter. OLD, tired, but true...

The good news is wherever it finally retraces to, from that point it shold be another long steady climb upward...


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