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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: AllansAlias who wrote (19851)	9/20/2000 11:07:42 AM
From: Perspective	Read Replies (1) of 436258

'Fraid I gotta call BS on your support line here. Support is definitely in the upper forties. You need to discard the activity in late 1998 in looking at support for most stocks. Understand that the break in 1998 was the start of the bear that is now so long overdue, but it was entirely aborted thanks to the hijinks at the Fed. That entire period was an aborted breakdown through the trendline I speak of, and I don't believe aborted failures should be included. You can get this perspective if you bring up a monthly chart. Connect the lows in 95, 96, 97, 99, and 2000, and you see a very well defined support line that is completely parallel to the stock movement, and climbing in excess of 40% per year. That line represents the Bubble, from day one. There will be a big tradeable bounce when GE tests that line again, but when it fails, it will be yet another signal that the secular bear is here. BC [EDIT: that said, you evidently make sh*tloads more money at this than me, and have quite a knack for grabbing all these short-term swings. I envy your apparent skills... :-) ]

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