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Gold/Mining/Energy : Gold Price Monitor
GDXJ 97.68+5.0%Nov 10 4:00 PM EST
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To: Oblomov who wrote (59547)10/9/2000 8:54:47 AM
From: Rarebird  Read Replies (1) of 116753
 
<What price action would need to occur for you to say, "this is a bear market?"

Price action is subject to a lot of interpretations, and that is not my primary focus, so I'm not sure. (There is a plethora of talk on SI about that anyway.) What I do know, however, is that most professional money managers have an investment directive to remain invested at all times. In the face of poor earnings announcements these managers are simply moving money between sectors. Currently, money has not yet been pulled out of the market and until this happens a large sell-off will not occur. I think it will take an extended period of poor performance to induce individuals to redeem their mutual fund shares and pull money out of the market to cause a truly bear market. Until this occurs the market could be fairly listless unless some of the problems affecting earnings are alleviated.

PS Are you buying here?
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