MDGF - Market Direction by Gut Feel ONLY! Message Board

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Strategies & Market Trends : MDGF - Market Direction by Gut Feel ONLY!

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To: Gersh Avery who wrote (380)	7/1/2000 6:03:51 PM
From: el paradisio	Read Replies (1) of 410

Gersh,thanks for reminding me about the holidays... If it sounds like 98...I don't think so,because we've already corrected and Compx did hit 3150 on May 22,a drop over 37%, which gives you approx.Fib retracemet of 38%. Such drop is unusual in the market history and the last was in 1987,and before a similar drops in 1980,1976 and 1974. I do not believe that 1929 will repeat.... One of the last crashes,in 1987 was caused by Grenspan....and now he has enough of experience not to repeat it the second time. He would rather prefer,the market will not move too much for the next 2 years,than crash it.That's why he is "kindly" reminding about the possible rates hikes in the near future,just in case if once again the market will go wild... el

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