Stock Attack II - A Complete Analysis Message Board

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Strategies & Market Trends : Stock Attack II - A Complete Analysis

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To: bobby beara who wrote (6360)	4/25/2001 9:37:55 PM
From: Paul Shread	Read Replies (1) of 52237

For the heck of it, I went back and looked at a monthly chart of the 1929-1932 Dow (page 325 in E&M). The index had six consolidations/rallies during the 32-month bear market, and all but one lasted 3-5 months. The one that lasted only two months didn't occur until late 1931. Interestingly, similar to the current Nasdaq, the Dow never broke its downtrend during that bear market. Not saying that this will happen, but the Nasdaq could rally to 3000 and not break its main downtrend line. Just saying there's a lot of room and time for a big rally here without ever changing the major trend.

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