Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Lucretius who wrote (9167)	8/7/2000 10:03:59 PM
From: Perspective	Read Replies (1) of 436258

If we are really unwinding the Mania, then things should get ugly very soon. What a coincidence that we are rapidly approaching September and October. Back in January, I was staring at the DJIA chart, remarking to myself how much it looked like an unfolding head-and-shoulders top. I know the utility of chart formations is limited, and only useful after they've been formed, but I went "Nah, then the right shoulder would take us out to August-September before things fall apart" and I didn't think that could possibly happen. Well, here we are, in the thick of August, and whaddaya know, Dow is clawing back up for one last gasp, just in time to make an obvious eight-month-long right shoulder to balance out that left shoulder that started in April, 1999. Yield curve has been fully inverted since the last rate hike; Net, wireless, and now semis have all hit the skids; mutual fund flows have begun to ebb now that they've actually posted <GASP!> a down quarter; all the dominoes are in place - now I'm just waiting to see them start falling. Let the fun begin. BC

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