Forum Archive Index - April 2000

["nick" <acummin@es.co.nz>]

       Just thought i would boost my falling self esteem  with a quick told

you so. Remember when everyone was panicking last weekend (seems ages ago)

. A week ago many were predicting the end

of civilisation as we know it, five trading days later and we are all looking forward

to making a killing on fletcher forests. The following is what i wrote last weekend

        nick

 

   Im still not convinced it was panic, more an orderly retreat.

Lets face it we all know how overvalued the tech stocks have become.

  There was a slight recovery from the lows at the end of the day so there

were a few brave (silly) buyers around, and the market wasnt in complete freefall.

        The volatility the last week or two has been becoming more and more

extreme.   The market is 25% down from its highs but has taken a week to

fall so far. Anyone wanting to exit has had plenty of opportunity.

       In new zealand i suspect that by friday we will all be wondering what the fuss

was about.

          nick