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Strategies & Market Trends : Trade/Invest with Options Jerry a Point & Figure Chartist

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To: Jerry Olson who started this subject	9/23/2001 1:54:32 PM
From: Teri Garner	Read Replies (1) of 5893

Don't Kid Yourself: 1998 Is Long Gone By Odette Galli Columnist 09/21/2001 12:15 PM EDT In the midst of this most horrifying crisis, people in the financial markets are taking solace in how stocks rebounded after the Long Term Capital Management meltdown in 1998. A little too much solace, I fear. Many people remember that just three weeks after the Dow bottomed in October 1998, it had bounced back by 15%. Within four months, it was up almost 34%. Couldn't the same thing happen this time? Unfortunately, I suspect not. The underlying economy now is much weaker and the sense of uncertainty far greater. The terrorist attacks of last week have shocked an economy that had been faltering for many months. Moreover, despite the big sell-off in recent days, stocks are not exactly cheap by historic norms -- and for the first time in years, Americans don't feel safe. The value manager in me is just not feeling the urge to take a plunge in stocks right now. thestreet.com

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