Merril Lynch Replacing IT stocks for GOLD?
https://moneycentral.msn.com/community/message/board.asp?board=FedWatch
From: goldstandard500 Sent: 1/14/2002 7:00 PM
Buddiee...I have to agree with you. When we switched boards about six months ago I know some of us were going the the Raging Bull, but their problem is that if you don't agree with them, they would sooner run you out than give you the right time of day.
As a perma bull myself, I can certainly understand the power of positive thinking, but not to the extent of going down with the ship. I'll let others become the martyr's. The problem with those guy's is that they feel that by shear will they can have the markets do their bidding, and I'm sorry to say, it just ain't so. One can wish all they want for the good old days in the late 90's, but those days are long gone and probably never to return.
When you have a firm like Merrill Lynch come out today and literally states to get out of overvalued stocks and into bonds, something is up. Yet even Merrill hasn't come completely clean. Did you know that several months ago, they quietly started dumping their IT stocks and started replacing them with gold stocks? Today nearly 35% of their clients portfolios are gold related, and again, gold was the best performer of all sectors in 2001 bar none!
With all that's going on in this world, I can find little to be bullish about. A Fed Chairman who is out of step with reality, politicians raping the system with coporate handouts, Enron, Agrentina on the skids, Japan sinking fast, U.S. consumers that are maxed out on debt and still trying to pay off Christmas from 1999 on their plastic accounts, war and now 200 representatives from the government of Turkey are hear in the U.S. looking for a 5 Billion dollar bailout.
Somehow, I just get the sense that something is going to break loose very soon, as this house of cards will not be able to sustain itself any longer.............G.S.