Re: Speaking of volatility . . .

[Rob Schaap <bantam@xxxxxxxxxxxxxxxx>]

G'day Tom,

> Paging Dr. Schaap, paging Dr. Schaap . . .

I'm sure Doug has me down as the anesthetist ...

> What's your take on the MerValous paroxysm at NASDAQ? The scent of
> death sure gets the vultures aflutter, eh?

The Lesser Speckled Argentinian Vulture is remarkable for its habit of fleeing
from corpses.  8.3% of said vultures flew north today alone, and the
ever-opportunistic Greater Greenbacked Vulture has joined in for a short
feeding frenzy.  Anyway, it has to go somewhere, and where else would it go
right now?.  I mean, the hacks explained yesterday's swoon in the finance
sector with reference to Argentina's bad debt plight - well, that plight is so
much the worse today, and today it explains a whopping recovery!  And
Microsoft is trading at a PE of 40, and cops billions in early trading on very
ordinary projections in a demonstrably mature sector!  If M$ is really so
bloody cocky, why is it dumping 3% of its workforce as we speak?  My medical
training tells me that any recovery based on IT stocks right now is the
equivalent of a hungover drunk having a few shots in the morning.  It'll wear
off by lunchtime, and it'll hurt all the more then.

And then there's GM: up five per cent because their revenues are down ...

S'pose we'll see in the morning if there are any more Latin fowl to pluck -
me, I'm having my man get me back into cash overnight.  It's Friday here, so I
might buy a beer with it.

Cheers,
Rob.