People have been punished, punished badly. I don't think they're going to come in.
Technical analysis works precisely because people look at it. And if people care, I care.
We're taking a lot of the people out of the market permanently. We're losing a whole generation of investors.
We're still in a position where stocks are too widely owned, ... and the people that own them own too much.
I think the rally has a while to go yet, maybe another few weeks. Then it's going to be choked off primarily by a valuation problem that people will not be able to dodge. Buying IBM at 30 times earnings -- that's very hard to do for most investors.
I think the rally has a while to go yet, maybe another few weeks, ... Then it's going to be choked off primarily by a valuation problem that people will not be able to dodge. Buying IBM at 30 times earnings -- that's very hard to do for most investors.