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Pastimes : All Clowns Must Be Destroyed
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To: Lucretius who wrote (2791)1/18/2000 6:43:00 AM
From: Oblomov  Read Replies (2) of 42523
 
Have you noticed that despite the tremendous inflows of capital over the past few weeks (401k, bonuses, reversal of tax-loss selling), the market has nonetheless failed to make significant price progress? We are still below the Dec. 31 high in the S&P 500 and the Nas 100. In fact, we are less than 6% above the May 1999 intermediate term top in the S&P 500. Meanwhile, the more speculative indexes have become greatly overextended. This extended topping action has occurred before, namely in 1966-1969 and 1975-1976.

I realize that this is not new information for anyone here, but the bulls are ignoring it.
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