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Politics : High Tolerance Plasticity
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To: chowder who wrote (7276)8/31/2001 8:20:13 PM
From: Think4Yourself  Read Replies (1) of 23153
 
It is the bears, not the bulls, who have not learned from history. Take a look at what historically happens after a bad August and you will find that September and October are usually much better than when August was good. Take a look at how many of the October crashes have occurred after the fed has been actively lowering interest rates. Take a look at what historically happens 6-12 months after the fed starts cutting rates. Look at how many times the economy has failed to recover within 12 months after the start of such a dramatic series of rate cuts. There are even sayings to remind people, like "Don't fight the fed" and "never short a dull market".

In other words, from a historical perspective, the bears are shorting at the bottom hoping to get the last dollar.

The bears have been taking history out of context in numerous ways, probably more to support what they want to happen than to mislead. I'm betting history repeats itself so I am very long here. The economic data coming out now confirms history is going to repeat itself.

Incidentally yesterday's losses were wiped out by today's action. Up on the week and up on the month. It appears the indexes are masking what is really happening in the market, or maybe the shorts in my stocks are covering and moving to greener pastures. Either way it doesn't matter.

Best part is that there are still a snotload of shorts who will be covering soon. History and an all time high short interest make for a combination that brings a tear to my eye ;o)
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