There's asaying on Wall Street that say; "The second mouse gets the cheese." There are some disturbing coincidences twixt yesterday's events. Valuations got ahead of fundamentals. A stumble resulted in ripple effects. Large players intervened to prevent prices seeking their own levels. Short term bargain opportunities were created. And worst; everyone with avested interest came out today to calm the other mice that all was well, Casey is an isolated case and the market correction was not indicitive of a larger problem.
Wednesday, February 28, 2007
Don't be the first mouse
There's asaying on Wall Street that say; "The second mouse gets the cheese." There are some disturbing coincidences twixt yesterday's events. Valuations got ahead of fundamentals. A stumble resulted in ripple effects. Large players intervened to prevent prices seeking their own levels. Short term bargain opportunities were created. And worst; everyone with avested interest came out today to calm the other mice that all was well, Casey is an isolated case and the market correction was not indicitive of a larger problem.
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8 comments:
"Will you come into my parlor?", said the spider to the fly.
Yesterday an accountant friend of mine said this could be a buying opportunity, as I told her:
"I guess it depends on if you think today is the overture or the entr’acte."
Personally, I think yesterday was just the conductor tapping the baton to get the musicians attention.
I will wait at least to see if the current 'correction' has support. I have been watching a few stocks and yesterday was good(for me as they got huge haircuts). I won't play longterm though. just looking for a couple quick 5-10% plays.
Big name home builders are all down today (and yesterday, of course).
rat,
http://finance.yahoo.com/q/cp?s=%5EHGX
There's a post on this subject in the que slatedfor 9:30AM.
It was all just a glitch people, nothing to see here.
http://tinyurl.com/2pzs4r
-jbjbj, not buying it
Ain't Nuthin But a G-String G-Thang....
As much fun as it is to pile on, I don't think Hoseadus is directly responsible for the stock market decline.
I do think that the markets are generally oversold. But any correction will be because the underlying fundamentals do not support current prices, not because Boy Wonder lied on his loan apps and generally acted like a moron.
In a way, you could say the stock market tanking and the Casey market tanking have the same fundamental cause.
Completely off topic, but I thought this was a good read http://www.simple-talk.com/content/article.aspx?article=356
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