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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: UnBelievable who wrote (63150)1/30/2001 3:53:40 PM
From: pater tenebrarum  Read Replies (2) of 436258
 
in '73, after the first downleg in the 73/74 bear market, the Fed also began to lower rates, producing a rally roughly similar in extent to this latest one....it proved to be one of the biggest bull traps of the century...of course there was a different set of accompanying circumstances, as inflation and oil prices specifically were on the cusp of a huge run.

a similarity though could be found in the positive looking a/d and nh/nl stats. it looked in every respect as though a new leg up in the bull market had started....most interestingly, in the two weeks before the trap door opened wide, new lows on the NYSE had dwindled nearly to zero...and the indices reached recovery highs besting the highs reached upon the initial cut.

this may be a 'variation on the theme' replay...
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