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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 665.67

-0.9%

Nov 17 4:00 PM EST

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To: SOROS who wrote (31257)	10/24/1999 8:24:00 PM
From: Eric Wells	Read Replies (2) of 99985

SOROS: your argument appears to be as follows: since being a bear has been wrong for the past 10 years, it would be wrong to be a bear now. If this is indeed your argument, I can't say I accept the logic. I would have classified myself as a "bull" up until April of this year (I've been investing for 10 years) - at that time, I started cutting back on my long positions. In July, I sold my last long position and started shorting various stocks - I suppose that point marked my transition to bear status. Since July, I've done only short-term trades, some long, some short. There are obviously others who have also just recently become bears if bearish sentiment indicators are to be trusted. I'm curious if there are aspects of the current market and economic conditions which you are relying on in maintaining your bullish stance - other than the 10-year bullish argument that you presented in your post. Thanks, -Eric Wells

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