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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: SecularBull who wrote (83107)3/20/2001 11:42:20 PM
From: GraceZ  Read Replies (2) of 436258
 
Once in a lifetime? Where have I heard that before.

Bottoms are not made after fresh new lows. Bottoms are long drawn out affairs where stocks break to the upside and fail, and then break to the upside and then fail. This can go on for months. When you break to a new low, you have to start all over again. What makes them stick is that no one believes that stocks will ever rise again and even people who want to hold decide only to hold long enough to get out at a slightly higher price. People sell all the way up out of the bottom, this is what gives the upside persistence.
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