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Non-Tech : Dorsey Wright & Associates. Point and Figure
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To: Doppler who wrote (7265)4/15/2000 9:11:00 AM
From: Dave Shares  Read Replies (1) of 9427
 
<<Today we broke the intermediate BSL. Then there is the big one way down there. If we get down there and bounce, people would think it was nearly the end of the world, but years from now analysts would look back and say that NAZ stayed above it's long term trendline, and therefore in a long term Bull market. >>

Hi wxdude,

I think your chart shows that long term BSL on NAZ at 2000 ?

From the October, 1998 low, that would be a 50%+ return in 18 months or so. Nearly 100% from somewhere around 1996.

If you are right that people would say that NAZ 2000 is the end of the world, even after NAZ 2000 represents significant LONG TERM gains (and continues a long term uptrend), it says a lot about how unrealistic expectations have become among the investing public. Almost as unreal as the speed of the ascent to NAZ 5000. Well, we all have to wake up from our dreams sometimes.

Best wishes always,

David (in cash for the next opportunity to long a bounce or short a rally)
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