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Strategies & Market Trends : Sharck Soup
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To: mish5000 who wrote (31490)7/20/2001 5:58:31 PM
From: sea_biscuit   of 37746
 
While I agree that the markets are still overvalued, I think Prudent Bear has a vested interest in making a scary picture look scarier. The scale for Slide 8 should have been logarithmic. After all a 1000 point rise from Dow 10,000 to 11,000 is not the same as a 1000 point rise from 1,000 to 2,000. The former is a rise of 10% while the latter is a rise of 100%.

That said, I think the Dow could decline to 7500-8000 and the S&P to 750-800 before all this is over. The Naz could bottom around 1200 -- if we are lucky. If we are not lucky... well, let's not talk about it, OK?!
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