The market conditions are similar to 1999
- Thread starter OptionGuru
- Start date
The market conditions are similar to 1999
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I traded 1999 and the years leading to it. It was unreal. 1999 was a break out market making spectacular parabolic moves, with the stronger high tech & biotech stocks making double digit gains nearly every day the sun came up. Most IPOs doubled the first day. Many days were lock limit/up - big gap ups often. In contrast, our market has been range bound for a very long time, recently creeping out of it lately but no fireworks - a real sleeper. The Asia markets have been acting a lot more like 1999. Strangers would talk non stop over the dot-com stock that was making them rich - everybody was high with greed - nobody dared sit on the side lines and everybody loved the market. Our market is nothing like 1999 - In 1999 the common person got rich, the traders got wildly rich - do you see that now?
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I traded 1999 and the years leading to it. It was unreal. 1999 was a break out market making spectacular parabolic moves, with the stronger high tech & biotech stocks making double digit gains nearly every day the sun came up. Most IPOs doubled the first day. Many days were lock limit/up - big gap ups often. In contrast, our market has been range bound for a very long time, recently creeping out of it lately but no fireworks - a real sleeper. The Asia markets have been acting a lot more like 1999. Strangers would talk non stop over the dot-com stock that was making them rich - everybody was high with greed - nobody dared sit on the side lines and everybody loved the market. Our market is nothing like 1999 - In 1999 the common person got rich, the traders got wildly rich - do you see that now?
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What's interesting to me is the belief that the current markets condition is irrational. We only very recently pushed above the tops created in 2000 crisis and the 2008 crisis. The market has produced an absolutely horrible return since the peak in in the 2000 crisis. Those who bought at the beginning of 2000 are barely keeping ahead of inflation.
1999 had real market/trading interest...lots of participation each and every day...This current market is the exact opposite of that...Take note of how little market discussion there is on this message board every day...It's only picked up in the last week because of the move this past Friday...The chat room was closed in late August because nobody even used it any longer...I guarantee you would have had 500 participants in that chat room had it existed in 99-00...
The market conditions are similar to 1999
- To those who were trading at that time you know what to expect.
- To those who were not trading at that time hang on to your panties.
Stay long (DIA, SPY, QQQ) and get ready for a strong uptrend going into 2017 - similar to 1999/2000.
all the people in the market can be divided in two categories: ones that can play it and ones that can not
and both of those categories should not care less what is market doing, what it looks like etc etc: first category will handle anything, the other category is beyond any help.
OK ..... thanks for all the replies. We will have to wait till March 2017 to reflect back on the wild market ride of late 2016/early 2017.
I have a feeling there will be some good stories.
I have a feeling there will be some good stories.
I don't think Nothing ...will ever compare to 1999The market conditions are similar to 1999
- To those who were not trading at that time hang on to your panties.
....likewise for the 1929 crash, the Tulip craze, the housing bubble, etc etc.Every market incident is truly unique in its own right, if you really analyze each of them.
But to cut to the chase, Market emotions and rationale is an art. ever constantly evolving and revolving.
OK ..... thanks for all the replies. We will have to wait till March 2017 to reflect back on the wild market ride of late 2016/early 2017.
I have a feeling there will be some good stories.
I suspect you're quite right about the coming rough ride. However, to create a thread like this without providing any kind of justification is, to say the least, quite absurd!
"Justification" for this thread will come around March 2017.
ET threads will spring up comparing 2016/2017 with 1999/2000 and wishing they had seen it coming while I predicted it months in advance.
"Justification" for this thread will come around March 2017.
ET threads will spring up comparing 2016/2017 with 1999/2000 and wishing they had seen it coming while I predicted it months in advance.
Anyhow, hope you're right as I am heavily long S&P and Nasdaq with TQQQ, QQQ, XSP.TO, VOO.
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