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Strategies & Market Trends : Roger's 1997 Short Picks

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To: Franco Battista who wrote (7406)11/21/1997 11:23:00 AM
From: Jon Tara   of 9285
 
Franco, it's called the "wall of worry".

It's very frustrating to bears. In order to go higher, a bull market needs plenty of fear. Sorta like the scariest ride at the amusement park - would the lines be so long if it didn't supply lots of thrills?

Of course, this provides bears with plenty of false signals that "this is it". Look back through this thread - feel free to go back a year or more. How many times have the furry ones growled "this is it!"?

All in all, you probably can't call it. Crashes come so fast that nobody can predict them. Bear markets come on so slowly that nobody realizes it until you're well into it.
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