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Pastimes : All Clowns Must Be Destroyed
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To: patron_anejo_por_favor who wrote (40422)6/16/2000 10:45:00 PM
From: pater tenebrarum  Read Replies (1) of 42523
 
if it were to continue down sharply from here, i'd say there's real trouble brewing...the whole way the OEX is set up long term looks extremely suspicious...frankly, to me it looks like we may in hindsight find out that the March top was an important milestone, perhaps even the ultimate secular bull market top. of course that sounds a bit overly dramatic considering we're actually not too far off the highs, but both in price (magnitude of the moves) and time this topping process hints at something more troubling than the usual fare...note also that the head and shoulders that he sees is actually part of a larger pattern that includes a three-peaks and a domed house formation, followed by this large volatile pre-BK consolidation...even the failed break-out attempt out of the tiny bull flag at the end of the pattern is typical.
and it is a giant pattern...the three peaks were produced during July-October LAST year, so the pattern is larger than it's '98 equivalent, it is even larger than the '29 equivalent.
if i'm not seeing ghosts and this is what it really is, we should see a pretty major slice of US market cap disappear into money heaven in the near future.
now that i have made this bearish rant public, the market will probably proceed to melt up without further ado, but if i'm right for a change then it's bombs away time just about NOW.
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