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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 665.67-0.9%Nov 17 4:00 PM EST

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To: Wayners who wrote (71570)3/9/2001 2:23:52 PM
From: Boplicity   of 99985
 
How odd I was just dusted that book off and was reading it. Here's more;

<<So, the shrewd investor, going against crowd behavior, has two clues near a bear market bottom: first, extraordinary pessimism among the crowd at the bottom, and second, continued skepticism and pessimism during the first sharp rally in the Bull market (sounds like the January rally). In Bear rallies the pessimism usually fades rapidly since investors are very eager to want the believe in the rally hoping the old bull market resuming. But at bottoms of bear markets the crowd has been hammered too many times and regards each rally as an opportunity to sell (look like the endless selling we are having now). >>

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