Word: overbought
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Dates: during 1980-1989
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...been going back into the market slowly and cautiously, in comparison with the mob scene in mid-1987, which made everyone skittish and panic-prone. That is not the mood this time around -- at least, not yet -- and markets rarely hit their peak until all types of stocks are overbought, professionals become exuberant, and even small investors are snapping up stocks with abandon. Peter Lynch, manager of Fidelity's $11.5 billion Magellan mutual fund, recalls that "in the summer of 1987, torrents of cash were coming at us out of money-market funds." There is only a dribble this year...