On Wed, Sep 23, 2009 at 5:24 PM, Max B. Sawicky <[email protected]> wrote: > Well I'm not Dean, but one possible answer is that there is less > potential profit > in shorting at an earlier stage in the bubble. >
Yes, that's undoubtedly true. Taking this reasoning to its logical conclusion, speculation (in either direction) is only really effective when the momentum has already turned (for reasons other than speculation) in a favorable direction. This is like the rooster taking credit for causing the sun to rise in the morning! I agree with Jim that the speculator is merely a messenger. -raghu. -- Dyslexics of the world, UNTIE! _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
