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ATG, very clean 5 wave pattern in fidelity select electronics, with wave 3 ending in mid sept with an ABC into the october lows, we are now in five of five, with a new high possible in this fund as they window dress into tuesday, but it may have topped already and have a failed fifth.
We are witnessing a peak in bull market optimism, i read on the front of the newspaper on tuesday about the consumer confidence and the big shopping season, you keep hearing traders who say the market is unstoppable, pay any price for qcom, traders are falling all over themselves to get into sunw, the economy is a supertanker, the bears have been totally discredited, the bear threads are empty, roger's short thread was vacant of posts from the october bottom and this one is mostly inhabited by bk's a myth man, symbolic last wall st. bear Gail Dudak removal from elves list.
Total complacency as gold, has been 'de-monetizied' and has been described as no longer relavent.
At the peak, everything is bullish, msft court ruling a buying opportunity, rate hike is good for the market, oil can't go any higher.
Most of the last remaining bears were killed at the october bottom and lately the bull posters have been particularly rude to anyone with a bearish bias.
I think the new millenium will exhibit a similar hangover to 90's after the 80's real estate buying binge and the super overconfidence in Japan, the decennial pattern.
Why didn't you tell us the millennium crash would really be in the next millennium in 1997 -gg-
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