Agoracom

I`m still here, but I have little to say unfortunately, and I don`t want to just waste bandwidth. I`m suffering in the resources area, and it seems to be broadly based. What I mean is, no one seems to have confidence in anything. And when people are depressed, they don`t feel like investing new money. The only positive thing I can say is, if there was an allegedly temporary diversion of funds to deal with Katrina, then logically when that is over, buying of product will return.

I hope.

Oh, there`s another thing; there`s a tendency for investors to attack the whole market, both up and down, near the peak. When people see stocks rising, they don`t want to invest in the stocks that have already jumped, because they`ve missed the boat - so they look around for stocks that haven`t risen yet. That takes them higher. Similarly, when stocks fall and people get scared, they tend to bail out of the ones that haven`t dropped yet, to preserve their capital - the rationale being that the others have already lost their value. I get the feeling that that`s happening - but I can`t be sure that there won`t be a broad ``capitulation`` selloff, here or in October. If that happens, wait three days, then buy something :-)