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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 14 4:00 PM EST

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To: pater tenebrarum who wrote (50034)	5/9/2000 11:03:00 PM
From: SBerglowe	Read Replies (3) of 99985

What is interesting at this juncture is that those who are allowing for further downside here in the markets for the most part believe that we will make a double bottom or a 'W" bottom and start to rally. Most gurus and advisers do not present the possibility that we could be going into a bear marekt (admittedly with sharp violent rallies)... but an enduring bear market does not seem to be in the view of most. When I postulate this among friends, and semi sophisticated investors, they look at me with wonder and say, "Susan, Have you lost it? Where else is money going to go?" The belief is that we are awash in a sea of liquidity and that money must by its very nature find its way into stocks. Unfortunately, I don't know where this liquid sea of money will go, but the point is that this bear trend is thought to be a brief event even by those who acknowledge that the market is currently trending lower. No one that I speak with could conceive of the possibilityof a multi year bear market. It's sacrilege and impolite to even imagine such.

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