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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 670.92+0.1%Nov 7 4:00 PM EST

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To: John Madarasz who wrote (52407)5/27/2000 6:43:00 PM
From: Square_Dealings  Read Replies (1) of 99985
 
re: Diary of a Fund Manager

John,

How many of those historic corrections were proceeded by blowoffs, parabolic markets? 37% off sale on something (Naz) that was overvalued by a factor of 5 still doesn't seem cheap to me. Nor does the market behavior of the last couple years seem to be anything like that of the last 30 years?

<<It seems clear to me that this correction is much more like the rest of the corrections over the last 30 years. In other
words, we are near the maximum length of other major corrections, and we have exceeded the maximum of the range of losses of these corrections. >>

M.
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