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Strategies & Market Trends : Sharck Soup
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To: American Spirit who wrote (16636)4/17/2001 5:54:47 PM
From: velociraptor_  Read Replies (1) of 37746
 
I am not sure how you're doing your analysis but the bear market is not over. This is a bear market rally plain and simple. Stocks are even more overvalued now then they were when the Naz was at 5000 because of significantly lower earnings. The fact that companies are meeting or beating estimates now is irrelevent given that these estimates have been lowered a great deal due to warnings and in most cases they are significantly lower than last year. This is hardly the catalyst for the start of a new bull. Naz will not see over 3000 for years and will be lucky to make it over 2500 and even 2250 anytime soon.

That said I am currently putting short positions on hold due to the strength of this rally. It won't last but there is no reason to put on additional risk at the moment until the pattern tops out.
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