did you get out of your tech hi-fliers in 2000...or did you think it would never end that time too?
Actually, there was a sell signal on the NASDAQ breadth MCSUM on 4/18/00 and I closed out the last of my positions at that time. It's also interesting to note that this same sell signal gave an initial downside price objective for the COMPQ of 2800, and believe me when I tell you, no one was interested in listening to the warning given at that time.
But you can't live in a stock position where you can live in a house. And when things get tough, it's basic animal instinct to "nest" and wait for a storm to pass. And this was the major reason why housing appreciated as it did earlier this decade...all those improvements of "protection" translated to value. This is also a reason why housing has remained as buoyant as it has during the last couple of years in spite of all the froth.
Better to be angry at people who then took advantage of an emotional hook than to chastise those who only wanted a piece of the action and had a sense of urgency in doing so. Every reasonable person out there knew it was only a matter of time before this kind of mistake was going to come to a head, and if I were you, I would be looking around for some investment property right now - though some due diligence is needed - while being aware of the fact that there are better places to invest than those areas in which people tend to be drawn to during soft spots in the economy...major cities.
Best
Fib
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.
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