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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Les H who wrote (174397)6/22/2002 12:13:43 AM
From: Fun-da-Mental#1   of 436258
 
Les: I agree there are some bargains and sentiment is bearish. But we haven't seen capitulation. What we have is

1) Overvaluation +

2) Loss of faith in the system

= a dangerous combination!

stockcharts.com[h,a]daclyyay[df][pb50!b200][vc60][iUb14!La12,26,9]&pref=G

Anybody just looking at this chart would expect a lower low in a few months, i.e. september/october, which is usually when we have the low for the year anyway. That should be a short-term buying opportunity, leading to a lower high. It seems like such a no-brainer maybe that's why he's calling for a change. But as a good friend of mine once said, "There is no escaping what is most obvious about your situation."

Fun-da-Mental
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